Ripple recruits senior manager for business development (institutional DeFi), with position requirements including responsibility for “promoting cryptocurrency-related ETF projects,” which is seen as a sign that Ripple is preparing to apply for an XRP ETF. In response to this, Fox Business reporter Eleanor Terret stated that XRP futures ETF is a prerequisite for launching a spot ETF.
Following the recent approval of a Bitcoin spot ETF by the U.S. Securities and Exchange Commission (SEC) after 10 years of repeated rejections, there is now anticipation in the market for the launch of other cryptocurrency ETFs, such as Ethereum and XRP.
Today, Twitter account @3TGMCrypto discovered that Ripple is seeking a senior manager for business development (institutional DeFi) in New York, with explicit mention of being responsible for “promoting cryptocurrency-related ETF projects,” which suggests that the company is preparing to apply for an XRP ETF.
This has sparked anticipation within the community, and some internet users have made predictions about the timing of the launch of XRP futures ETF and spot ETF. Fox Business reporter Eleanor Terret provided a more detailed explanation of the relationship between the two:
In fact, there hasn’t been any good news about the launch of an XRP spot ETF for a long time. In November of last year, a screenshot of a regulatory document indicated that BlackRock was preparing for the launch of an XRP ETF, but it was later confirmed to be fake news. Recently, senior reporter Charles Gasparino from Fox Business quoted insiders and revealed that BlackRock currently has no plans to launch an XRP spot ETF, with one of the main reasons being the regulatory uncertainty surrounding XRP.
In July of last year, Judge Analisa Torres made a ruling in the Ripple vs. SEC lawsuit regarding whether XRP is a security, determining that XRP sold to institutional buyers is an unregistered security, but XRP sold to retail investors through exchanges is not considered a security. Gasparino believes that this legal ambiguity is a barrier for large financial institutions like BlackRock to launch an XRP ETF.
Currently, the focus of the market is on the final trial scheduled for April 23rd, which may bring more clarity to the legal status of XRP.
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