🟪 Wen dogwifhat ETF?

An XRP ETF might actually happen. What else is possible?

Author

Michael McSweeney
October 06, 2024

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I can’t believe I’m really writing this: an XRP ETF might actually happen.

It seems only yesterday (read: last year) that the crypto market was twisting itself in knots about a fake XRP ETF filing from BlackRock. The false filing to the Delaware Division of Corporations sent tons a wagging, but I mean, come on, did anyone really expect it to happen?

It’s amazing what a 2024 chock-full of ETF victories will do. With the BTC and ETH ETFs now, dare we say, hum-drum market products, it seems only natural that other digital assets are ready to take their turn.

Enter Bitwise.

It seems worth repeating that the XRP ETF’s prospects are, well, a bit iffy. SEC chief Gary Gensler didn’t seem exactly thrilled about the BTC and ETH ETFs passing through his agency. Given that the SEC’s lawsuit against Ripple is still in-progress, the agency might attempt to throw a wrench or two in the gears.

But what then? Another lawsuit to force the SEC’s hand? Remarkable times, these are.

Forward Guidance’s Ben Strack noted, correctly I think, that the upcoming election will have a big impact. Suppose the Republicans win big, the promise of firing Gensler actually pans out, and suddenly, a supposedly more crypto-friendly administration takes over.

An XRP ETF’s prospects would improve practically overnight. Heck, we might even see a dogwifhat ETF at that point. 

XRP Army rejoice.

And now, on to the roundup:

— Michael McSweeney

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