Following the Bitcoin ETF decision, speculation about a potential XRP ETF has excited investors. A Valkyrie executive hinted at the possibility of an XRP ETF emerging soon. This news was shared by Valkyrie’s Chief Investment Officer, Steve McClurg, during a Bloomberg interview.
The interview focused on the recently approved Bitcoin spot ETFs, but the conversation shifted when the journalist asked if ETFs could extend beyond Bitcoin to other cryptocurrencies.
McClurg responded to the question about the likelihood of ETFs for other altcoins by suggesting that many applications for an Ethereum ETF could be expected, and developments might also lead to an XRP ETF.
Grayscale’s recent decision to potentially reintroduce XRP into its Digital Large Cap Fund was a significant move, given that the company had previously halted all XRP initiatives following a lawsuit by the SEC in 2021. However, a court ruling in July last year, which indicated XRP was not a security, led Grayscale to reconsider its stance on XRP.
Grayscale’s change of heart, combined with the success in the Bitcoin realm and Ethereum ETF applications, has sparked rumors of an imminent XRP ETF. McClurg’s comments have further fueled these speculations. While McClurg did not confirm Valkyrie’s participation in a potential XRP ETF, he acknowledged the unpredictable nature of the crypto market. At the time of writing, XRP had seen a 7% price increase in the last 24 hours, trading at $0.5986.
