ETFStore President Predicts BlackRock and Fidelity to Be Involved in XRP ETF as Ripple Lawsuit Nears End
ETFStore President Nate Geraci expects BlackRock and Fidelity to file for XRP ETFs in the U.S. as the Ripple lawsuit nears its conclusion. This week, the multi-year Ripple lawsuit saw a major development after the crypto payments company dropped its cross-appeal against the SEC. This decision came a few days after the SEC had also agreed to dismiss its appeal, a move confirmed by Ripple CEO Brad Garlinghouse. Despite these decisions, the parties still need the SECs commissioners approval and court processes to finalize the resolution of the lawsuit. Previously, several experts, including Geraci, believed that the lawsuit could hinder the approval of XRP ETFs in the U.S. and deter top asset managers from participating. This is evident in BlackRock and Fidelity staying away from filing for XRP ETFs despite other financial institutions like Franklin Templeton and WisdomTree submitting respective applications. BlackRock and Fidelity to Participate in XRP ETF With the lawsuit nearing its endpotentially clearing up regulatory uncertainties surrounding XRPGeraci argued that BlackRock and Fidelity will participate in the XRP ETF initiative. These multi-trillion-dollar asset managers already have spot Bitcoin and Ethereum ETFs trading on major exchanges. However, they have not filed for an XRP ETF even though it ranks as the third-biggest non-stablecoin crypto in the market. Geraci expects this to change now that the Ripple lawsuit is coming to an end. SEC to Approve XRP ETF Further, he asserted that the SEC will definitely approve XRP for an ETF, noting that it is only a matter of time before this happens. Recall that Ripple CEO Brad Garlinghouse shared a similar opinion earlier, expressing confidence in the potential launch of XRP ETFs. Ever since, several institutions, including 21Shares and Grayscale, have filed to launch XRP ETF in the U.S. The SEC has also acknowledged multiple XRP ETF filings submitted by exchanges. Earlier this month, prominent technical expert Vincent Van Code forecasted that the SEC would approve multiple XRP ETFs by May 22, 2025. It remains uncertain whether this prediction will come to pass. In the meantime, investors are anticipating the SECs official statement regarding its decision to drop the Ripple appeal, ending the regulatory uncertainties surrounding XRP. The commission is expected to vote on the decision today during its closed-door meeting.
Text source: The Crypto Basic
