š Expert Claims Spot XRP ETFs A āMatter Of Timeā As CME Futures Go Live šØ
With the CME XRP futures going live today, attention has again turned to the spot XRP ETFs, which are still pending regulatory approval.
However, market expert Nate Geraci predicts that the US SEC will eventually approve these funds, stating that it is only a matter of time.
In an X post, the president of the ETF Store asserted that Spot XRP ETFs are only a matter of time, while noting that the CME-traded XRP futures are now live. He added that this development means there are CFTC-regulated contracts on XRP.
A regulated futures market is significant and increases the likelihood of an XRP ETF approval due to the Grayscale case. In Grayscaleās case against the SEC, the court ruled that the futures and spot markets are similar.
As such, the court argued that the SEC cannot reject a spot ETF application on the ground of manipulation when there is already a futures market for the same coin.
As we reported, the CME futures launched today, with the CME Group also confirming that the XRP and Micro XRP futures are now live.
Investors can now trade them and manage exposure to one of the leading cryptocurrencies.
Polymarket traders are also betting on the SEC approving an XRP ETF this year.
Data from the prediction platform shows an 83% chance this fund will launch this year.