Is XRP really about to take off?
The SEC has just approved ProShares' XRP futures ETF, which will officially launch next Tuesday (4/30). There's so much to say, so I'll share a little at a time.
First of all, I was really shocked when I saw the news. The SEC actually approved it. And they approved three at once:
✅ProShares Ultra XRP ETF
✅UltraShort XRP ETF
✅Short XRP ETF
It's not just a single one; it's a whole set that they've given the green light to.
However, it's important to clarify that this is not a #spotETF, but rather a #futuresETF. This means they are buying XRP's futures contracts, not actually holding the XRP coins themselves. But that doesn't matter anymore; direction is more important than form.
Why am I so excited? Because behind this lies a two-year battle between #Ripple and the #SEC.
To recap briefly,
On January 17 of this year, ProShares officially submitted the application. At the same time, Ripple's lawsuit with the SEC was also nearing its conclusion;
Ripple voluntarily withdrew its cross-appeal, and the SEC also withdrew its procedural sales appeal. The two sides finally reached an agreement, with Ripple paying a $50 million fine and $75 million being returned.
This really counts as a handshake agreement between them.
So, do you understand now?
Why is #ProShares' XRP ETF able to pass now?
It's not a sudden change of heart, nor is it a policy relaxation,
It's because the legal foundation has been solidified, and the door to compliance has started to slowly open a little crack.
Moreover, the bigger story is that the next script is already on its way:
#Grayscale, #21Shares, #Bitwise, #CoinShares, #WisdomTree, #FranklinTempleton... a bunch of big names are already lined up to apply for XRP spot ETFs.
It's expected to be revealed by mid-October.
If the #spotETF is really approved, the market estimates that,
Just from the first wave, #XRP could attract $8 billion in institutional funds.
$8 billion, brothers and sisters! This is not small money; this has the potential to completely refresh the entire valuation system of XRP, like hitting the refresh button.
So, what you see today with the approval of the #ProShares ETF, I personally think it is a signal, a stronghold, a starting point.
The real big show is still ahead. Don't rush, take your time to watch and slowly prepare.