Crypto enthusiast talks about the possibility of “XRP Spot ETF”
Yassin Mobarak talked about the possibility of “XRP spot ETF” products in the future and claimed that there are very rare chances of rejection by the US regulator.
In the present time, the majority of crypto enthusiasts are talking about the probability of approval of Bitcoin spot ETF products, as a dozen applications are on the table of the United States Securities and Exchange Commission (SEC) seeking to get regulatory approval.
On 17 Dec 2023, Yassin Mobarak of Dizercapital took to X (formerly Twitter) to share his opinion on the future possibilities of “XRP spot ETF” products.
Mobarak said that XRP is a regulated crypto token so it is easy for XRP coin to get attention among institutional investors.
He also dragged attention toward a recent rumour of potential BlackRock’s XRP spot ETF product that caused a sudden increment in the trade price of XRP coin, as a response to the sudden increment of XRP demand among institutional investors.
According to Mobarak, there is zero competition between the fund managers for the “XRP spot ETF” product and it will give a first-mover advantage for a fund manager.
Furthermore, this crypto enthusiast noted that the US court already cleared that XRP is not a security token, so XRP coin has a clear use, & there is a very low chance for the ETF application rejection.
Mobarak noted that if XRP spot ETF-related applications come amid this bull run phase then that will act as an avalanche to pump the trade price of XRP coin.
XRP price action
The current trade price of the XRP coin is $0.61 & this trade price is 17% higher over the last 90 days of trade price.
Here all the Bitcoinik.com readers need to know that “XRP spot ETF” is only a concept proposed by a crypto enthusiast. So far no fund manager talked about it being possible, so don’t consider this news as financial advice.
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