Steven McClurg of Valkyrie Investments is forecasting a surge in applications for Ethereum and potentially Ripple, following the approval of the Bitcoin ETF. The crypto community’s interest in a possible XRP ETF has been piqued by Grayscale’s decision to reintegrate Ripple into its Large Cap Digital Fund.
With the SEC’s impending approval of the first Bitcoin ETFs, Steven McClurg, CIO of Valkyrie Investments, foresees a significant shift in the cryptocurrency investment sector, focusing on other major digital assets such as Ethereum and XRP.
Valkyrie Investments, one of 11 applicants awaiting SEC approval for its Bitcoin ETF, expects a swift change in industry dynamics. Steven McClurg is predicting the approval of the Bitcoin ETF and the commencement of trading.
In a recent interview on Bloomberg Crypto, McClurg shared his thoughts on potential XRP ETF applications. He hinted at the possibility of increased applications for Ethereum and Ripple, citing recent developments such as Grayscale’s inclusion of Ripple in its publicly traded securities trust.
The crypto community’s interest in an XRP ETF has been heightened by Grayscale Investments’ decision to reintegrate the cryptocurrency into its Global Large Scale Digital Asset Fund (GDLC). Despite rumors of an XRP ETP from Fidelity Investments, these reports were incorrect, and Fidelity currently features the 21Shares XRP ETP on the SIX Swiss Exchange.
However, not all experts are optimistic about an XRP ETF. Bloomberg ETF analyst James Seyffart has expressed caution, citing SEC scrutiny and the requirement for the Chicago Mercantile Exchange (CME) to list XRP futures on a regulated market of sufficient size. The potential for an XRP ETF is dependent on market demand and the achievement of regulatory milestones. The regulatory challenges and scrutiny facing XRP make its ETF prospects complex and nuanced.
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This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | James Seyffart, Steven McClurg |
| Companies | Grayscale Investments, 21Shares, Valkyrie Investments, Fidelity Investments, Chicago Mercantile Exchange |
| Currencies | Ethereum, Bitcoin, XRP |
| Securities | None |
