Is Ripple’s Job Vacancy Post the First Step Towards an XRP ETF Launch?
Recent reports unveiled that Ripple is hiring a Senior Manager for Business Development in New York, with a key responsibility related to ETFs. Responding to the announcement, Fox Business reporter Eleanor Terrett hinted at a potential XRP ETF launch, with the expert hiring as an initial step.
In order to have an $XRP spot ETF, there will first need to be a futures ETF.
Part of getting the $BTC spot ETFs approved was the @SECGov concluding that the CME bitcoin futures market would suffice to provide surveillance for fraud and manipulation.
If $XRP gets a futures ETF… https://t.co/MPFVSherXK
— Eleanor Terrett (@EleanorTerrett) January 27, 2024
On January 27, a prominent crypto analytics platform on X, Good Morning Crypto, drew the community’s attention to the recent development in the Ripple ecosystem. With the mission of global financial equity and growth, Ripple envisions expanding its work power.
When the firm announced the vacancy for a Senior Manager for Business Development, one of the position’s key roles included “Drive cryptocurrencies related ETFs initiatives with internal trading teams and relevant partners.”
🚨 JUST IN: Ripple is on the lookout for a Senior Manager for Business Development in New York! 🏙️
🌐 Job description drops a hint:
“Drive cryptocurrency-related ETF initiatives.”👀📈
Could this mean an $XRP ETF is closer than we had imagined? 🤔🚀
— Good Morning Crypto (@3TGMCrypto) January 26, 2024
Subsequently, Terrett wrote on X that an XRP Futures ETF is a prime requirement for a Spot XRP ETF. She asserted that if XRP gets a Futures ETF, it’s “a step in the right direction” towards a potential Spot ETF. To reinforce her points, Terrett illustrated the example of the SEC’s Spot Bitcoin ETF approval, which was mainly driven by the Bitcoin Futures launch. Her words read,
Part of getting the BTC spot ETFs approved was the SEC concluding that the CME bitcoin futures market would suffice to provide surveillance for fraud and manipulation.
Chinese crypto reporter Colin Wu also reflected on the matter on his official X account, Wu Blockchain. In an X post, reiterating Terrett’s ideas, Wu noted, “The Ripple job posting involves “promoting cryptocurrency-related ETF plans,” or hints that the company is preparing to apply for an XRP ETF.”
An XRP ETF launch has been a topic of discussion over the past few weeks, especially after the Spot Bitcoin ETF launch. The community is divided based on the contrasting opinions regarding a potential XRP ETF launch. However, prominent figures like James Seyffart believe the launch cannot be realized this year due to the prevailing regulatory uncertainty.
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