How can Ripple launch its own ETF?
He believes that the iroduction of the XRP futures ETF fund is a necessary step before the iroduction of the spot ETF fund of this digital currency. According to him, regulatory bodies such as the US Securities and Exchange Commission (SEC) consider the existence of the futures market of an asset in the Chicago Mercaile Exchange (CME) sufficie to monitor against fraud and manipulation.
This was exactly the path asset manageme companies took to offer the Bitcoin Spot ETF. Bloomberg Ielligence analyst James Seyffart expressed a similar opinion earlier this moh.
All eyes are now on the ongoing legal battle between the SEC and Ripple over the sale of XRP to organizations, which the court considers a securities transaction.
The decision on this matter will be issued in the final session of this year's court in April 2024. The provision of XRP spot ETF is subject to the court ruling that any transaction of this digital currency does not include the purchase and sale of securities.
