Ripple is looking for a Cryptocurrency ETF Development Manager! Fox Reporter: XRP spot ETF will be launched first, followed by futures

After 10 years of repeated rejections, the U.S. Securities and Exchange Commission (SEC) finally approved a U.S. Bitcoin spot ETF. The decision sparked expectations for the launch of other cryptocurrency ETFs, including Ethereum and XRP. This website (120BTc.coM) will continue to pay attention to this development and provide investors with timely market analysis and information.

Today’s X account @3TGMCrypto discovered that Ripple is recruiting a senior manager in New York, mainly responsible for promoting cryptocurrency-related ETF plans, which seems to mean that the company may apply for XRPETF.

Fox Business reporter: Futures ETF is a preparatory step for the launch of spot ETF

The community expressed expectations for the launch time of XRP futures ETF and spot ETF. Netizens made predictions about this. In order to launch an XRP spot ETF, an XRP futures ETF first needs to be launched. As Fox Business reporter Eleanor Terret explained in detail, the SEC believes that the CME Bitcoin futures market is sufficient to provide monitoring of fraud and manipulation, which is part of obtaining approval for a Bitcoin spot ETF. If XRP obtains a futures ETF, it will be an important step towards launching a spot ETF.

In fact, the news of launching XRP spot ETF has not made good progress for a long time. In November last year, a screenshot of a regulatory filing showed that BlackRock was making preliminary preparations for an XRP ETF, but this news was later confirmed to be false. Recently, Charles Gasparino, a senior reporter at Fox Business Network, quoted sources as saying that BlackRock currently has no plans to launch an XRP spot ETF. One of the main reasons is the uncertainty in the supervision of XRP.

Last July, Judge Analisa Torres made a ruling in a lawsuit between Ripple and the SEC over whether XRP is a security. She believes that XRP sold to institutional buyers is an unregistered security; however, XRP sold to retail investors through exchanges is not considered a security. According to Gasparino, this legal ambiguity has become an obstacle for large financial institutions such as BlackRock to launch XRPETF.

Currently, the market is generally paying attention to the final court trial that will be held on April 23, which may bring more clarity to the legal status of XRP.

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