Following the decision on a Bitcoin ETF, claims about a potential XRP ETF have excited all investors. One of the senior executives of Valkyrie, a pioneer of Bitcoin spot ETFs, recently indicated that a possible XRP ETF could soon be on the agenda. This news was shared by Valkyrie’s Chief Investment Officer, Steve McClurg, during a Bloomberg interview.
Is an XRP ETF on the Horizon?
The focus of the interview was on the approved Bitcoin spot ETFs. At one point, the journalist’s curiosity prevailed, and they asked an incredible question. The question, driven by excitement, was whether ETFs could go beyond Bitcoin.
When asked about the possibility of a similar ETF for altcoins in the crypto market, McClurg responded:
I think we’ll see a lot of applications for Ethereum. In light of recent developments, I think we might see something for Ripple (XRP) as well.
One of the recent events was Grayscale’s planned major step to re-include XRP in its publicly traded Digital Large Cap Fund. McClurg continued his statements as follows:
I wouldn’t be surprised if we see Ripple (XRP) or Ethereum spot ETFs.
Grayscale’s decision was met with shock. The company had previously halted all XRP-related initiatives in 2021 following a lawsuit filed by the SEC. However, things did not continue the same way.
A court decision last July, which indicated that XRP is not a security, led Grayscale to retract and re-include XRP in its company plans.
A few days ago, Grayscale took another giant step. During a broadcast by CNBC, reassuring statements were made about Bitcoin, Ethereum, and also XRP.
This change of heart, combined with Grayscale’s Bitcoin battle victory and Ethereum spot ETF applications, has triggered rumors that an XRP ETF might soon be available to investors. McClurg’s statements have caused these rumors to be discussed more loudly.
Will Valkyrie Join the XRP ETF Race?
McClurg also commented on whether Valkyrie would participate in a potential XRP ETF race:
I really don’t know if we will do it.
While McClurg did not give a definitive answer on whether Valkyrie would apply for a potential XRP ETF, he also emphasized the unpredictable nature of the cryptocurrency market.
As of the writing of this article, XRP has found buyers at the level of $0.5986, with a 7% price increase in the last 24 hours following the ETF approval.
