{"id":568488,"date":"2024-01-08T09:45:14","date_gmt":"2024-01-08T09:45:14","guid":{"rendered":"https:\/\/wncen.com\/?p=568488"},"modified":"2024-06-11T14:44:09","modified_gmt":"2024-06-11T14:44:09","slug":"xrp-etf-trending-x-heres-why","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/xrp-etf-trending-x-heres-why\/","title":{"rendered":"XRP ETF Is Trending On X, Here&#8217;s Why"},"content":{"rendered":"<p>As anticipation builds around the potential <a href=\"https:\/\/wncen.com\/bitcoin-news\/why-this-analyst-thinks-its-impossible-for-the-bitcoin-etf-to-be-priced-in\/\" target=\"_blank\" rel=\"noopener \">approval<\/a> of the first spot Bitcoin ETFs in the US by the Securities and Exchange Commission, the keyword &#8220;XRP ETF&#8221; is currently trending on X (formerly Twitter). Numerous XRP community members have posted supposed proof that an ETF in the US is on its way and could soon become a reality. However, a closer examination reveals a more nuanced reality.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Why is <a href=\"https:\/\/twitter.com\/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$XRP<\/a> ETF trending? \ud83d\udc40<\/p>\n<p>&mdash; XRPcryptowolf (@XRPcryptowolf) <a href=\"https:\/\/twitter.com\/XRPcryptowolf\/status\/15834941?ref_src=twsrc%5Etfw\" rel=\"nofollow\">January 7, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>XRP ETF Is Trending<\/h2>\n<p>Good Morning Crypto recently <a href=\"https:\/\/twitter.com\/3TGMCrypto\/status\/80106604\" target=\"_blank\" rel=\"noopener nofollow\">stated<\/a>, \u201cJUST IN: Fidelity Unveils XRP ETP !?! With Grayscale &amp; Fidelity offering XRP products, 2024 could be the breakout year for XRP as it inches closer to all-time highs.&#8221; Similarly, XRP CAPTAIN announced, &#8220;BREAKING: Spot XRP ETF is for real,\u201d while CryptoGeek <a href=\"https:\/\/twitter.com\/CryptoGeekNews\/status\/22150114\" target=\"_blank\" rel=\"noopener nofollow\">claimed<\/a>, \u201cBREAKING: XRP ETF CITED TO BE RELEASED IN A &#8216;MATTER OF WEEKS&#8217; FOLLOWING BITCOIN ETF APPROVAL BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING \ud83d\udea8\ud83d\udea8 SPOT <a href=\"https:\/\/twitter.com\/hashtag\/XRP?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#XRP<\/a> ETF Is For Real \ud83d\udca5\ud83d\udca5\ud83d\ude80\ud83d\ude80\ud83d\ude80 <a href=\"https:\/\/t.co\/Up2sA9jbDK\" rel=\"nofollow\">pic.twitter.com\/Up2sA9jbDK<\/a><\/p>\n<p>&mdash; XRP CAPTAIN (@UniverseTwenty) <a href=\"https:\/\/twitter.com\/UniverseTwenty\/status\/44188717?ref_src=twsrc%5Etfw\" rel=\"nofollow\">January 7, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The root of these claims lies in an XRP ETP from 21Shares (formerly Amun), which is available on Fidelity Investments\u2019 platform. This development has generated significant excitement within the XRP community. However, the narrative around a US-launched ETF is misleading.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/xrp\/xrp-price-will-cross-1-56\/\" target=\"_blank\" rel=\"noopener \">New Report Predicts When The XRP Price Will Cross $1.56<\/a><\/div>\n<p>The buzz partly stems from Grayscale&#8217;s recent decision to reincorporate XRP into its Grayscale Digital Large Cap (GDLC) fund, following Judge Analisa Torres&#8217; July 2023 ruling that classified XRP as a non-security. This ruling reversed Grayscale&#8217;s previous removal of XRP in January 2020 amid legal controversies over its security status. This move by Grayscale has fueled speculation about an upcoming ETF from the firm.<\/p>\n<p>But contrary to circulating claims, Fidelity has not launched an XRP ETP. Fidelity\u2019s platform only showcases the XRP ETP launched by Swiss financial institution Amun AG in April 2019. This product, initially called AXRP and later rebranded to 21Shares, is available on the SIX Swiss Exchange. Moreover, it is not a US-registered ETP.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/xrp\/xrp-whale-makes-massive-transfer-amidst-price-volatility\/\" target=\"_blank\" rel=\"noopener \">XRP Whale Makes Massive Transfer Amidst Price Volatility<\/a><\/div>\n<p>Meanwhile, it is backed by physical XRP and managed by Coinbase Custody. Remarkably, the product is 100% backed by physical XRP and records $49,325 million in assets under management (AUM).<\/p>\n<h2>Why A XRP ETF Won&#8217;t Happen Anytime Soon<\/h2>\n<p>Regarding the possibility of an XRP ETF in the US, Bloomberg ETF expert James Seyffart offered a sobering perspective a few months back in response to rumors about a fake BlackRock XRP ETF which initiated a 15% pump that was quickly erased. In an interview, he <a href=\"https:\/\/twitter.com\/ThinkingCrypto1\/status\/55662866\" target=\"_blank\" rel=\"noopener nofollow\">stated<\/a>: &#8220;I don&#8217;t think that XRP is ever going to get through the SEC&#8217;s doors, essentially not anytime soon, even after that loss [<a href=\"https:\/\/wncen.com\/news\/ripple\/ripple-vs-sec-epic-battle-unfolds-over-770m-disgorgement-demand\/\" target=\"_blank\" rel=\"noopener \">Ripple vs. SEC<\/a>].<\/p>\n<p>He added, \u201cFirst of all, CME would have to list XRP futures before a futures ETF would launch, and I can&#8217;t imagine them allowing them a spot XRP ETF anytime soon. But again, like I said, three weeks ago I said I didn&#8217;t think <a href=\"https:\/\/wncen.com\/news\/ethereum\/ethereum-futures-numbers\/\" target=\"_blank\" rel=\"noopener \">Ethereum futures ETFs<\/a> would be coming anytime soon unless there&#8217;s a huge change in the SEC, so theoretically it could be. But the SEC has said in that Terra case and multiple other cases that they believe Judge Torres got it wrong.\u201d<\/p>\n<p>In summary, while the XRP community&#8217;s excitement is palpable, the reality of an ETF in the US remains distant, with regulatory hurdles and the SEC&#8217;s stance posing significant challenges.<\/p>\n<p>At press time, XRP traded at $0.55178.<\/p>\n<figure id=\"attachment_568508\" aria-describedby=\"caption-attachment-568508\" style=\"width: 3628px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-568508 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/XRPUSD_2024-01-08_10-25-09.png?resize=3628%2C1673\" alt=\"XRP price\" width=\"3628\" height=\"1673\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/XRPUSD_2024-01-08_10-25-09.png?w=3628 3628w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/XRPUSD_2024-01-08_10-25-09.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/XRPUSD_2024-01-08_10-25-09.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/XRPUSD_2024-01-08_10-25-09.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/XRPUSD_2024-01-08_10-25-09.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/XRPUSD_2024-01-08_10-25-09.png?w=2048 2048w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/XRPUSD_2024-01-08_10-25-09.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/XRPUSD_2024-01-08_10-25-09.png?w=1140 1140w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/XRPUSD_2024-01-08_10-25-09.png?w=3000 3000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-568508\" class=\"wp-caption-text\">XRP price drops towards the 0.618 Fib, 1-day chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/THKwsj8x\/\" target=\"_blank\" rel=\"noopener nofollow\">XRPUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image from Shutterstock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As anticipation builds around the potential approval of the first spot Bitcoin ETFs in the US by the Securities and Exchange Commission, the keyword &#8220;XRP ETF&#8221; is currently trending on X (formerly Twitter). Numerous XRP community members have posted supposed proof that an ETF in the US is on its way and could soon become a reality. However, a closer examination reveals a more nuanced reality. Why is $XRP ETF trending? \ud83d\udc40 &mdash; XRPcryptowolf (@XRPcryptowolf) January 7, 2024 XRP ETF Is Trending Good Morning Crypto recently stated, \u201cJUST IN: Fidelity Unveils XRP ETP !?! With Grayscale &amp; Fidelity offering XRP products, 2024 could be the breakout year for XRP as it inches closer to all-time highs.&#8221; Similarly, XRP CAPTAIN announced, &#8220;BREAKING: Spot XRP ETF is for real,\u201d while CryptoGeek claimed, \u201cBREAKING: XRP ETF CITED TO BE RELEASED IN A &#8216;MATTER OF WEEKS&#8217; FOLLOWING BITCOIN ETF APPROVAL BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.&#8221; BREAKING \ud83d\udea8\ud83d\udea8 SPOT #XRP ETF Is For Real \ud83d\udca5\ud83d\udca5\ud83d\ude80\ud83d\ude80\ud83d\ude80 pic.twitter.com\/Up2sA9jbDK &mdash; XRP CAPTAIN (@UniverseTwenty) January 7, 2024 The root of these claims lies in an XRP ETP from 21Shares (formerly Amun), which is available on Fidelity Investments\u2019 platform. This development has generated significant excitement within the XRP community. However, the narrative around a US-launched ETF is misleading. Related Reading: New Report Predicts When The XRP Price Will Cross $1.56 The buzz partly stems from Grayscale&#8217;s recent decision to reincorporate XRP into its Grayscale Digital Large Cap (GDLC) fund, following Judge Analisa Torres&#8217; July 2023 ruling that classified XRP as a non-security. This ruling reversed Grayscale&#8217;s previous removal of XRP in January 2020 amid legal controversies over its security status. This move by Grayscale has fueled speculation about an upcoming ETF from the firm. But contrary to circulating claims, Fidelity has not launched an XRP ETP. Fidelity\u2019s platform only showcases the XRP ETP launched by Swiss financial institution Amun AG in April 2019. This product, initially called AXRP and later rebranded to 21Shares, is available on the SIX Swiss Exchange. Moreover, it is not a US-registered ETP. Related Reading: XRP Whale Makes Massive Transfer Amidst Price Volatility Meanwhile, it is backed by physical XRP and managed by Coinbase Custody. Remarkably, the product is 100% backed by physical XRP and records $49,325 million in assets under management (AUM). Why A XRP ETF Won&#8217;t Happen Anytime Soon Regarding the possibility of an XRP ETF in the US, Bloomberg ETF expert James Seyffart offered a sobering perspective a few months back in response to rumors about a fake BlackRock XRP ETF which initiated a 15% pump that was quickly erased. In an interview, he stated: &#8220;I don&#8217;t think that XRP is ever going to get through the SEC&#8217;s doors, essentially not anytime soon, even after that loss [Ripple vs. SEC]. He added, \u201cFirst of all, CME would have to list XRP futures before a futures ETF would launch, and I can&#8217;t imagine them allowing them a spot XRP ETF anytime soon. But again, like I said, three weeks ago I said I didn&#8217;t think Ethereum futures ETFs would be coming anytime soon unless there&#8217;s a huge change in the SEC, so theoretically it could be. But the SEC has said in that Terra case and multiple other cases that they believe Judge Torres got it wrong.\u201d In summary, while the XRP community&#8217;s excitement is palpable, the reality of an ETF in the US remains distant, with regulatory hurdles and the SEC&#8217;s stance posing significant challenges. At press time, XRP traded at $0.55178. Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":568489,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[2029,3680,4531,89143,13172,10972],"class_list":["post-568488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-fidelity","tag-ripple","tag-xrp","tag-xrp-etf","tag-xrp-price","tag-xrpusd"],"acf":[],"yoast_head":"\n<title>XRP ETF Is Trending On X, Here&#039;s Why<\/title>\n<meta name=\"description\" content=\"As anticipation builds around the approval of the first spot Bitcoin ETFs in the US, the keyword &quot;XRP ETF&quot; is currently trending on X.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/ripple\/xrp-etf-trending-x-heres-why\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XRP ETF Is Trending On X, Here&#039;s Why\" \/>\n<meta property=\"og:description\" content=\"As anticipation builds around the approval of the first spot Bitcoin ETFs in the US, the keyword &quot;XRP ETF&quot; 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. 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His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. 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