Will We See an XRP ETF Soon? What Do Crypto Industry Experts Think?

Interest in an XRP exchange-traded fund (ETF) in the United States is gaining traction, fueled by increasing optimism from industry experts and a recent filing by Canary Capital.

Despite the ongoing appeal by the US Securities and Exchange Commission (SEC) in the Ripple case, market participants maintain a positive outlook on XRP’s future.

Canary Capital’s recent application marks the second attempt to establish an XRP ETF, following a similar effort by Bitwise earlier this month. These developments indicate a rising confidence in Ripple’s cryptocurrency among Wall Street investors.

Nate Geraci, president of ETF Store, expressed optimism, suggesting that the approval of such an ETF hinges more on timing than on the possibility of it happening.

He highlighted that shifts in the political landscape, including potential changes in presidential or SEC leadership, could significantly influence the direction of cryptocurrency regulation.

SEC Chairman Gary Gensler is facing mounting criticism from the crypto community, with accusations of the agency overreaching its regulatory authority.

However, some, including Geraci, believe that a change in administration could create favorable conditions for the approval of XRP ETFs. High-profile supporters, such as pro-XRP attorney Bill Morgan and Ripple CEO Brad Garlinghouse, also share a hopeful perspective.