#Ripple (#XRP ) gave the green light to the bull season with developments regarding exchange-traded funds (ETFs).
Building on the applications made in 2023, Bitcoin and Ethereum opened the door to crypto ETFs this year. The Ripple system emphasized $XRP 's development in the sector and open solutions, stating that it deserves to be the next crypto asset ETF.
This possibility may turn into cycles with the latest developments in the market. In an article published on X on Wednesday, researcher Anderson touched on several alternatives that support the market being prepared for XRP ETFs.
Following the opening of the ETF for Ripple (XRP), Anderson first stated that Grayscale's decision to open an XRP Trust in September was a file created for the XRP ETF. The Ripple complex is eagerly awaiting the official ETF move of Grayscale, a leader in asset management. In the meantime, it has taken official steps to list an XRP ETF combining other major crypto assets. Bitwise had filed a contribution with the US SEC on October 2.
Bloomberg financial analyst Eric Balchunas believes that Bitwise’s bold move regarding the XRP ETF is unlikely to be approved under the current SEC chairman’s administration. For this reason, the analyst believes that Donald Trump will play a more critical role in the US presidential election.
However, Canary Capital has joined Bitwise in the ETF race. An SEC filing was filed on October 8. The venture is Canary’s first foray into digital assets and is being led by Steven McClurg, who has cited strong investor demand for alternatives to Bitcoin and Ethereum as a driving force behind the venture.
