These ETFs would be the final blow to anti-cryptocurrency regulations, Geraci says.
XRP price would receive a strong bullish push if this hope materializes.
Nate Geraci, president of financial advisory firm NovaDius Wealth Management, expressed optimism about the imminent launch of the first spot XRP exchange-traded funds (ETFs) in the United States, with an estimated two-week time window.
The specialist mention the litigation between the United States Securities and Exchange Commission (SEC) and Ripple, the issuing company of XRP, which lasted for the last five years and ended three months ago. Last May, the parties agreed to a settlement. Ripple withdrew its countersuit on June 27, and the SEC dismissed the case on August 8, definitively closing the file and eliminating regulatory uncertainty about XRP.
Geraci believes that “the launch of the XRP spot ETF represents the final blow to previous anti-cryptocurrency regulators.” With this expression, refers primarily to the previous SEC administration, led by Gary Genslerwhich maintained a strict enforcement and rejection stance toward most investment products linked to digital assets, including bitcoin (BTC) spot ETFs, before being forced to approve them.
Geraci’s optimism is supported by concrete movements in the industry. Investment firm Canary Capital has made a strategic adjustment in its race to launch an XRP-based exchange-traded fund, by withdrawing the so-called “delay amendment” from its updated S-1 filing, as reported by CriptoNoticias.
This move suggests a possible launch date for the ETF of November 13, subject to approval of the 8-A filing by the NASDAQ.
The materialization of this scenario could mean a significant revaluation for the price of XRP. The approval of a spot ETF would make it easier for institutional investors to access cryptocurrency through a regulated financial vehiclewhich could translate into an increase in demand, putting upward pressure on the market price of XRP.