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Exchange-traded funds (ETFs) have become a buzzword in the crypto world—one now synonymous with price jumps and a lot of excitement among investors. We’ve seen this play out already with the likes of Bitcoin and Ethereum. However, what we also witnessed with their journeys to ETF approvals was a long and arduous process that took years to finalize.
We’ve also seen just how mired in regulations and bureaucratic SEC oversight the process of getting there can be. It took many delays before Bitcoin and Ethereum were finally granted their ETFs. Now, the pattern appears to be repeating itself with XRP.
XRP Has Proven Versatility
The fourth largest cryptocurrency in the world built its reputation on speed, cost-effectiveness, and strategic partnerships with the banking industry. As a result, it’s become one of the most widely adopted cryptocurrencies for real-world applications. It already boasts acceptance as a payment method by companies from Viamericas to SendFriend and even the world’s largest adult content platform in the world.
Cryptocurrencies have also found massive appeal in iGaming. Licensed online casinos like FastSlots allow gambling enthusiasts to place bets with Bitcoin, Ethereum, Tether, and others. The fact that these allow such sites to provide high-quality online gambling experiences that can be accessed faster and paid out instantly in a currency that could actually see your winnings grow has become a lightning rod for iGamers.
Not to be outdone, XRP has forged its own partnerships with many similar sites too. What this all adds up to in the eyes of most crypto investors is clear evidence that crypto will one day become a mainstream payment method. Having demonstrated its enormous potential already, it comes as no surprise that XRP is now also seeking its own ETFs. However, there have recently been two major developments to add further intrigue to the saga.
Delays in This Game Can Be Virtually Perpetual
Earlier this week, the SEC announced a delay in its decision to allow massive digital asset investment firms like Grayscale to launch XRP-focused securities products. Now confined to the end of May, it means we won’t be seeing XRP ETFs launch just yet. Two more months may not seem that long. However, as a colossally important step in the investment cycle toward greater investment on an institutional scale, right now these delays can cost billions in lost interest.
We know this because ETFs that track BTC and ETH have accumulated net assets now worth close to $100 billion between them. To holders with large positions of the crypto, the delays represent excruciating waits to see if their financial dreams for XRP come to fruition. For many, seeing XRP reach its potential also represents something far beyond monetary gain—it offers vindication.
A product of Ripple Labs, which is currently still embroiled in other drama with the SEC, XRP sought a more practical path than Bitcoin. Rather than chart an unknown course through the Himalayas of decentralization, early on, it emerged as a crypto to watch. For those who followed its path closely, it was always made clear that XRP could one day become a standout.
That’s because one of its primary aims has always been to pioneer blockchain-based solutions for cheaper, faster, and more secure cross-border payments. Leave alone the massive business applications this could have, imagine what it could do to help the unbanked in the most poverty-stricken, rural, or wartorn areas of the world.
The Man Who Could Play King-Maker
The problem with delays in the SEC’s decisions to approve crypto ETFs is that they tend to last very long or constantly be compounded by further delays at each point. However, James Seyffart of Bloomberg’s intelligentsia believes it’s all standard and we may see approval by mid-year. Of course, at the center of all lies another looming specter in the form of Paul Atkins—Trump’s yet-to-be-admitted SEC replacement Chair for Gary Gensler.
Atkin’s confirmation by the Senate isn’t expected to be until late March too, so it would be interesting to see if any decision on XRP’s ETFs is made before he takes office. In the meantime, another investment giant—Franklin Templeton—has now thrown the weight of its nearly $1.7 trillion assets under management into the ring too.
With Trump already moving on a strategic U.S. crypto reserve and unchaining crypto regulations, all the pieces could be coming together for a watershed moment for XRP. However, just how it all plays out and how long it takes to do so is still in the air.
English (US) ·