XRP ETF: Hype Or Hope? Experts Weigh In After BlackRock's Cautionary Move
Portfolio Pulse from Murtuza Merchant
BlackRock has reportedly decided not to launch a spot XRP ETF, as reported by Fox News' Charles Gasparino. This decision comes after a ruling by Judge Analisa Torres, which did not classify XRP as an 'investment contract.' Despite this, regulatory uncertainty remains due to the ongoing SEC lawsuit against Ripple, the company behind XRP. Industry experts suggest that an XRP ETF is likely but contingent on the lawsuit's outcome. BlackRock's cautious stance reflects the need for clearer regulatory frameworks for cryptocurrencies.
January 24, 2024 | 7:59 pm
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BlackRock's reported decision to refrain from launching a spot XRP ETF reflects caution due to the regulatory uncertainty surrounding XRP and the ongoing SEC lawsuit against Ripple.
BlackRock's decision to not proceed with an XRP ETF at this time is likely due to the legal and regulatory risks associated with XRP. While this news indicates a cautious approach by BlackRock, it does not necessarily have a direct short-term negative impact on BlackRock's stock, as the company is diversified and the decision may be seen as prudent risk management.
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