Leading ETF analyst Nate Geraci predicts the approval of a spot-based XRP ETF this year, despite current market dynamics and the position of companies like BlackRock.
Expert Predictions
Nate Geraci, a leading ETF analyst, expressed confidence that a spot-based ETF for XRP will be approved this year.
Ripple's Expectations
Ripple President Monica Long has stated that XRP is next in line for a spot ETF approval following Bitcoin and Ethereum. Applications for a spot-based XRP ETF have been filed by companies such as WisdomTree, Bitwise, Canary Capital, and 21Shares.
Market Situation
Despite the success of BlackRock's Bitcoin-based product, the company has ruled out exploring additional altcoin ETFs for now. However, Geraci expects the agency to also green-light multiple Solana-based ETFs. Meanwhile, Bloomberg's Eric Balchunas has expressed that Litecoin or Hedera tokens might receive approval for U.S.-based spot ETFs before XRP due to ongoing regulatory uncertainties.
While many market participants are hopeful for a resolution in Ripple's legal disputes with the SEC and a more favorable stance from the agency, uncertainty over the approval of an XRP-based ETF remains.
