As the political landscape in the United States undergoes significant changes with President-elect Donald Trump’s impending return to office, rumors are intensifying regarding potential filings for an XRP ETF by some of the world’s largest asset managers.
Speculation Grows Around Potential XRP ETF Approval
Currently, only five asset managers—Bitwise, Canary Capital, 21Shares, WisdomTree, and others—have submitted applications for an XRP ETF to the US Securities and Exchange Commission (SEC).
In stark contrast, a total of twelve asset managers have already filed for similar investment vehicles targeting Bitcoin (BTC) and Ethereum (ETH), highlighting a disparity in institutional confidence regarding XRP under the current regulatory environment.
However, the situation is evolving rapidly, especially with imminent changes within the SEC leadership. Current SEC Chair Gary Gensler has announced that January 20 will be his last day in office, coinciding with Trump’s previous commitment to remove him on his first day back in power.
This announcement has sparked speculation about a shift in regulatory attitudes toward cryptocurrencies among the broader crypto community, particularly in light of Trump’s more favorable stance on digital assets.
Adding to this wave of change, Democrat Commissioner Jaime Lizarraga will also step down from the SEC on January 17, citing personal reasons. These departures are paving the way for new leadership, which could potentially be more amenable to the cryptocurrency industry.
Following these announcements, Trump nominated Paul Atkins, the CEO of Patomak Global Partners, as the new head of the Securities and Exchange Commission, a move that gathered significant support among pro-crypto investors.
Atkins is seen as a proponent of market-driven policies that could facilitate the approval of XRP ETF applications and encourage other asset managers, including financial giant BlackRock, to follow suit.
The Future Of Crypto ETFs
Market experts, including Lark Davis, have hinted at the possibility of BlackRock filing an XRP ETF application, suggesting that such a move would inject substantial liquidity into the crypto market.
The anticipation surrounding this potential filing is palpable, as it could signal a broader acceptance of cryptocurrency ETFs, not just for XRP but potentially for other significant altcoins like Litecoin (LTC), Solana (SOL), and Hedera (HBAR), which have also seen applications to the SEC in recent months.
The prospect of an XRP ETF and the regulatory changes associated with Trump’s administration could mark a transformative moment for the cryptocurrency market.
This shift may also open the door for ETF applications for other coins, including Cardano and Dogecoin, further boosting investor confidence and interest in these assets.
While these developments are largely speculative at this point—no official statements have been released by BlackRock or any other institutions—the implications of pending XRP ETF applications could be profound.
Yet, with new leadership expected at the SEC, the odds of approval for such investment vehicles are looking increasingly favorable.
At the time of writing, XRP is trading at $2.40, finding support between the current price and $2.61 over the past week, after nearly topping $3 for the first time in over three years.
Featured image from DALL-E, chart from TradingView.com
