Investor and author Paul Barron has generated excitement in the XRP community by hinting at upcoming developments that could significantly impact XRP holders. This has sparked speculation about the nature and timing of these announcements, with some anticipating news in days or weeks.
This optimism coincides with recent progress related to XRP exchange-traded funds (ETFs). The U.S. Securities and Exchange Commission (SEC) recently approved the conversion of Grayscale’s Digital Large Cap Fund, which holds XRP, into a spot ETF. This move increases the likelihood of standalone XRP spot ETFs gaining SEC approval, as previous XRP products were limited to futures.
Currently, around ten XRP ETF applications, including those from Grayscale and Franklin Templeton, are under review. Analysts suggest that approval of dedicated XRP ETFs could occur by the October 2025 deadline, although the launch may take up to three months after approval.
In legal news, Ripple announced it will cease its appeal in its long-running SEC lawsuit, following an unfavorable final judgment in August 2024. The company is now focusing on other priorities, effectively closing the lawsuit chapter. XRP supporters anticipate that this resolution will pave the way for new partnerships and initiatives that were previously delayed.
Market observers are also closely watching for a potential XRP ETF from BlackRock, the world’s largest asset manager. Many believe BlackRock might be waiting for regulatory clarity before launching such a product. Analysts consider a BlackRock XRP ETF application both likely and strategically important given growing Wall Street interest in XRP.
Corporate interest in XRP is rising, with nine companies across industries such as technology, energy, pharmaceuticals, and cannabis revealing plans to hold XRP as a reserve asset. Collectively, these firms are investing nearly $1 billion, including:
- Trident Digital Tech Holdings: $500 million
- Webus: $300 million
- VivoPower: $100 million
- Wellgistics Health: $50 million
Additionally, Tuttle Capital Management is set to launch leveraged crypto ETFs targeting XRP, Solana, and BNB on July 16. Under current SEC procedures, such filings are approved unless objections arise. Similar ETFs focused on XRP futures have been launched by firms like Teucrium and Volatility Shares.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research before making investment decisions. The views expressed here do not necessarily represent those of The Crypto Basic.