There is a great buzz within the cryptocurrency sector in regard to the current spot XRP Exchange Traded Fund (ETF) filed by Grayscale yesterday. After the filing announcement, Polymarket’s poll shot up and currently suggests that 82% of the voters believe XRP ETF will be approved in 2025.
Grayscale’s Initiative
Grayscale yesterday, January 30,2025, filed for a spot XRP ETF with the New York Stock Exchange (NYSE). This move sent waves of excitement within the crypto community as it indicates increasing interest in getting Ripple into mainstream financial instruments.
Moreover, Eleanor Terrett, posted on her X account that there is a possibility of more submissions of Ripple ETFs by various issuers in the coming week. With this post by the Fox journalist, the community started speculating if BlackRock could be the next institution filing for XRP ETF in the next week.
After these developments the notion of the crypto community about Ripple ETF being launched this year has increased by 12% on Polymarket.
KuCoin Hints at Possible XRP ETF
In December, KuCoin, a prominent cryptocurrency exchange, posted on its X profile regarding Ripple ETF. The post read “Is an XRP ETF coming?”, this again started a series of speculations around Ripple ETF during that time. The exchange also described it as a fund designed to track the token’s performance, aiming to make crypto investment accessible and to bridge the gap between traditional finance and crypto space.
Regulatory Developments
The growing optimism around this topic is because of the changes that took place within the SEC. Gary Gensler who started a war on crypto, resigned from his position as the Chair of the SEC and Paul Atkins was appointed in his place. Atkins has been known for supportive regulatory environment for digital assets, due to which the community feels that there could be more liberal and sensible regulations moving forward for the crypto industry.
With all these developments, the Ripple’s native cryptocurrency token has experienced a slight uptick in its price. The price of the token currently stands at $3.10 with a surge of 0.3% in the last 24 hours.
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