ETF expert Nate Geraci has forecast that a spot XRP exchange-traded fund (ETF) will be launched in the coming days, marking the end of the regulatory witch hunt against the asset. Currently, several XRP ETF filings are pending with the US Securities and Exchange Commission (SEC), but an extended government shutdown has impacted the timeline for potential approval.
Nate Geraci Gives Two-Week Window For XRP ETF Launch
Amid the chatter around XRP ETFs, Nate Geraci has predicted the eventual rollout of the first spot XRP ETF in a matter of days. According to Geraci, the first product is expected to go mainstream within two weeks, marking the conclusion of a lengthy legal saga with US authorities.
Geraci noted in an X post that XRP ETFs have gathered significant steam in recent months, with several institutional asset managers filing their applications with the SEC. Apart from a surge in applications, the ETF expert appears to hinge his prediction on the approval of the REX-Osprey XRP ETF.
While appearing to be a spot ETF, the REX-Osprey ETF is a hybrid, only investing 80% of its net assets in XRP under normal market conditions. Meanwhile, futures XRP ETFs have gathered significant steam as investors seek regulated exposure to price movements without holding the underlying asset.
With a pure-play XRP ETF spot underway, Geraci noted that an SEC approval will mark the definitive end of Ripple’s five-year battle with US regulators. Ripple and the SEC have been at loggerheads over the designation of XRP, with the securities watchdog discontinuing its pursuit of charges against the company.
“IMO, the launch of spot XRP ETFs represents the final nail in the coffin of previous anti-crypto regulators,” said Geraci on X. “Have come a long way.”
Meanwhile, an extended government shutdown has delayed the approval of a raft of spot XRP applications. Currently, Canary Capital is in a strong position for early approval, with pundits eyeing November 13 as a potential launch date.
Several asset managers have made key amendments to their filings in line with the SEC’s post-shutdown timelines. Canary Capital has amended its application, updating key language in anticipation of a listing, while Bitwise has updated its filing to reflect a management fee of 0.34%.
Amid the buzz, XRP price is trading at $2.18, shedding nearly 6.53% of its value over the last day. Despite its ranking as the fourth-largest cryptocurrency by market capitalization, XRP has tumbled by over 10% on the seven-day charts. However, experts opine that an ETF approval will have the largest impact on XRP prices, sending the beleaguered asset to previously unseen highs.
Source: https://zycrypto.com/etf-expert-nate-geraci-predicts-launch-of-first-spot-xrp-etfs-within-two-weeks/
