US Will Soon Have XRP ETF Says Uphold Head of Research

XRP, the cryptocurrency often overshadowed by its peers, has experienced a remarkable surge in price. On Monday, it rallied an impressive 20.5%, breaking through various resistance levels to establish a new yearly peak above $0.7440. 

This surge comes at a time when many in the XRP community had expressed concerns about its lackluster performance in the current bullish market. 

Martin Hiesboeck’s Insights

Among those closely watching XRP’s surge is Martin Hiesboeck, Head of Research at Uphold Exchange. He attributes XRP’s impressive performance to positive developments around the asset since the clear rules ruling last year. 

Notably, Hisboeck mentioned the possibility of an XRP financial product, hinting at an upcoming XRP ETF.

Following a legal victory in July 2023, the XRP ecosystem experienced a broader development. Recent developments include the introduction of passive revenue opportunities for XRP holders through the upcoming Automated Market Maker (AMM) service, which has received the necessary approvals. 

Additionally, organizations such as SBI in Japan have launched cross-border payment services in several Asian countries using XRP.

The Promise of an XRP ETF

As news surrounding the XRP exchange-traded fund (ETF) continues to evolve, Hisbok has confirmed that XRP is a qualified U.S.-listed fund vehicle that is being activated This development suggests that XRP could soon have a further price impact.

When is XRP ETF Coming?

Despite growing optimism about ETFs in the XRP community, BlackRock and other major asset managers remain cautious about potential plans for disclosing such an investment product.

But industry experts like Ripple CEO Brad Garlinghouse and Valkyrie chief executive Steve McClurg believe the XRP ETF is inevitable. Garlinghouse expressed openness to the potential benefits of the idea in an interview with Bloomberg.

Former Ripple director Sean McBride went further, confidently predicting that the XRP ETF will be available either this year or in 2025.

Global Investment Opportunities

While the timeline for a U.S.-listed XRP ETF is still uncertain, new XRP financial vehicles are already being launched in other countries. For example, a recent addition is the XRP exchange-traded product (ETP) listed on the Swedish Stock Exchange, which offers interested parties investment opportunities