Nate Geraci, one of the most authoritative exchange-traded fund analysts, has stated that he expects the first XRP ETFs to launch within the next two weeks.
As reported by U.Today, Canary Capital recently submitted an updated S-1 filing for its spot Solana ETF.
In the meantime, Bitwise's fourth S‑1 amendment has added a 0.34% fee as well as an NYSE listing. This, according to various analysts, also indicates that the XRP is on the verge of going live.
The list of other firms that are vying to launch XRP ETFs includes Grayscale Investments, 21Shares, WisdomTree, CoinShares, and, of course, financial giant Franklin Templeton.
Notably, both BlackRock and Fidelity decided to remain on the sidelines of the race despite the latter filing for a similar Solana-based product.
The REX/Osprey XRP product, which has already surpassed $100 million in assets under management, claims to provide spot exposure to the token, but it does not hold just the underlying asset like the funds that are on the verge of launching in the US.
"Final nail in the coffin"
Geraci is convinced that the launch of the traditional spot XRP ETF will be "the final nail in the coffin" for anti-crypto regulators.
He recalled that the SEC had open litigation against Ripple up until several months ago.
As reported by U.Today, Ripple dropped its cross-appeal in July, and the two parties then filed a joint dismissal of their appeals in August. The closure of the case was then finalized by the United States Court of Appeals for the Second Circuit during the same month.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team