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With the arrival of Spot Bitcoin ETFs which have been permitted by the United States Securities and Exchange Commission (SEC) on Wednesday, crypto buyers have shortly turned their consideration to the following large factor which could be XRP ETFs. This is choosing up steam as Steve McClurg, Chief Investment Officer (CIO) for Valkyrie, has lent his voice to the trigger.

Valkyrie Exec Says XRP ETF Could Be Next

In an interview with Bloomberg, McClurg reveals that with the approval of Spot Bitcoin ETFs, the expectation is that altcoins will quickly comply with the identical path. He explains that focus may very well be turned to Ethereum, which is presently the second-largest cryptocurrency within the house. McClurg figures that a number of filings are going to be submitted for Ethereum ETFs after this.

Beyond the anticipated ETF filings for Ethereum, the Valkyrie CIO mentions that the likes of Ripple’s XRP may very well be the following in line to get permitted for an ETF. “It wouldn’t surprise me if we saw Ripple or Ethereum spot ETFs out there,” McClurg stated throughout the interview.

Although McClurg confirmed optimism concerning a potential XRP ETF, he revealed that there was no indication of whether or not Valkyrie was going to become involved in it or not. Valkyrie, who has been heavily involved in Bitcoin and Ethereum ETFs, has not proven any curiosity within the altcoin to this point.

However, the CIO defined that crypto could be extremely unpredictable. Given this, it’s unattainable to know the place the market will find yourself swinging and what asset managers will take an curiosity in subsequent.

Token value resumes value rally | Source: XRPUSD On Tradingview.com

ETF Talks For Altcoins Heat Up

The discussions for a potential XRP ETF will not be new, particularly because the arguments for Bitcoin Spot ETFs heated up. As a end result, crypto researcher, ABS, who’s a part of the 3T Warrior Academy gave a rundown of what the impact of a possible XRP ETF would be.

ABS explains that this might give rise to extra curiosity from institutional buyers as they might simply acquire publicity to the asset with an ETF. Additionally, it will additionally propel XRP into the mainstream as advertising and marketing would take off. This would clearly improve curiosity around the globe, and eventually, XRP ETF would give the crypto a liquidity life-off.

The impact that an ETF would have on the value of the asset could be gauged by what occurred in November when rumors emerged that BlackRock had applied for an XRP ETF. As the rumor unfold, the XRP value surged quickly, earlier than correcting again downward as soon as the rumors have been dispelled.

Nevertheless, this efficiency from the altcoin confirmed the readiness of the marketplace for an XRP ETF. In the case of the altcoin’s price reaching as high as $100, it’s possible not taking place within the subsequent few years. However, there is no such thing as a doubt that the approval of an XRP spot ETF would assist propel it sooner towards this aim.

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