JUST IN: XRP ETF Coming?

By Vince • January 7, 2024 12:14 pm • Comments

The crypto community is abuzz with rumors of a potential XRP exchange-traded fund (ETF)

At the center of the speculation is Grayscale adding both XRP and AVAX to its digital large-cap fund. XRP is now the fourth-largest asset in Grayscale’s holdings behind Bitcoin, Ethereum, and Solana.

It is important to note that these recent rumors are simply rumors, and while it is an interesting sign that Grayscale has added XRP to its large-cap fund, it in no way means that an XRP ETF is on the way. Still, one can hope! Attorney Bill Morgan speculated:

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“Great that you noticed this. I am really happy to see XRP and AVAX added by Grayscale to its digital large-cap fund. I feel good about diversifying my own portfolio by buying AVAX later last year instead of more XRP and then buying more XRP when it dipped in the last couple of days.

The legal clarity given to XRP by the Torres decision is no doubt relevant to Grayscale including XRP in this fund given Grayscale dissolved its XRP trust in 2021 after the lawsuit commenced.

Remember several days ago, there was a CNBC “crypto watch” segment, in which there was a Grayscale sponsored display of cryptocurrency prices featuring Bitcoin (BTC), Ethereum (ETH), and XRP.”

ZY Crypto didn’t miss the story:

The inclusion of XRP in GDLC has rekindled speculation about the imminent launch of an XRP ETF, signaling significant market movements. XRP, Ripple’s native cryptocurrency, now constitutes 2.54% of GDLC’s market capitalization.

Other members of the crypto community, including those in the XRP Army, saw the recent move by Grayscale as a sign that an XRP ETF is inbound. The community celebrated.

FX Street provided a current price analysis for XRP:

This was the last crucial level of support after the digital asset had already lost the 50- and 100-day EMA three days ago when the XRP price nearly crashed by 20% owing to the Matrixport FUD of SEC rejecting the spot Bitcoin ETF applications.

Trading at a two-month low, the altcoin is presently close to falling to $0.550.

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