thecryptobasic.com
Notable crypto community figures are increasingly convinced that XRP will be the next crypto asset to secure an ETF listing, with some issuing immediate timelines to watch.
This confidence follows the latest announcement from Grayscale, one of the most prominent crypto asset managers, launching an XRP Trust.
On Thursday, Grayscale Investments introduced the Grayscale XRP Trust, providing investors with a new way to tap into XRP’s potential. The trust offers exposure to XRP, and by investing in it, eligible investors can gain access to a protocol with significant real-world applications, according to Rayhaneh Sharif-Askary, Grayscale’s Head of Product.
Remarkably, the Grayscale XRP Trust opened for daily subscriptions for accredited individual and institutional investors after yesterday’s announcement. It will operate similarly to Grayscale’s other single-asset investment trusts, focusing solely on the XRP token.
This announcement excited the XRP Army, who believe it’s a step toward launching an XRP ETF.
Expert’s Timeline for XRP ETF Launch
Reacting to Grayscale’s latest move, Blair Campbell, a widely followed crypto marketing specialist, remarked that following the announcement, the market could see the first U.S.-listed XRP ETF in four to eight months.
Campbell expressed excitement, noting that she had always believed, after the Bitcoin and Ethereum spot ETFs went live, XRP would be next—before Solana.
In June, prominent asset manager VanEck submitted an application to list a Solana ETF with the SEC, the first of its kind for Solana in the U.S. However, this application has hit a roadblock.
Last month, the U.S. SEC discontinued the approval process for the Solana ETF due to concerns over whether Solana (SOL) should be classified as a security. Experts in the ETF market argue that there’s no chance of seeing a SOL ETF this year or even next.
Meanwhile, a similar sentiment is extended to XRP, though notable figures in the XRP community believe an XRP ETF could surface this year or next. This Grayscale’s latest action has only added to that confidence.
It’s worth noting that Grayscale previously offered an XRP Trust before the SEC lawsuit in late 2020. The firm liquidated the product amid legal challenges and is now bringing it back to life.