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Steve

<p>The post <a href="https://coinpedia.org/news/us-will-soon-have-xrp-etf-says-uphold-head-of-research/" rel="noopener noreferrer nofollow">US Will Soon Have XRP ETF Says Uphold Head of Research</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>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.&nbsp;</p>
<p>This surge comes at a time when many in the XRP community had expressed concerns about its lackluster performance in the current bullish market.&nbsp;</p>
<h2 class="wp-block-heading" id="h-martin-hiesboeck-s-insights">Martin Hiesboeck’s Insights</h2>
<p>Among those closely watching XRP’s surge is Martin Hiesboeck, Head of Research at Uphold Exchange. He <a href="https://twitter.com/MHiesboeck/status/1767539200075714999" rel="noopener noreferrer nofollow">attributes XRP’s</a> impressive performance to positive developments around the asset since the clear rules ruling last year.&nbsp;</p>
<p>Notably, Hisboeck mentioned the possibility of an XRP financial product, hinting at an upcoming XRP ETF.</p>
<p>Following a legal victory in July 2023, the <a href="https://coinpedia.org/price-analysis/xrp-price-ready-to-hit-1-with-this-breakout-rally/" rel="noopener noreferrer nofollow">XRP ecosystem</a> 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.&nbsp;</p>
<p>Additionally, organizations such as SBI in Japan have launched cross-border payment services in several Asian countries using XRP.</p>
<h3 class="wp-block-heading" id="h-the-promise-of-an-xrp-etf">The Promise of an XRP ETF</h3>
<p>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.</p>
<h2 class="wp-block-heading" id="h-when-is-xrp-etf-coming">When is XRP ETF Coming?</h2>
<p>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.</p>
<p>But industry experts like Ripple CEO Brad Garlinghouse and Valkyrie chief executive <a href="https://www.youtube.com/watch?si=1YyvTkiY7Ia2_Lta&amp;v=tVYJaZuavSo&amp;feature=youtu.be" rel="noopener noreferrer nofollow">Steve McClurg believe</a> the XRP ETF is inevitable. Garlinghouse expressed openness to the potential benefits of the idea in an interview with Bloomberg.</p>
<p>Former Ripple director Sean McBride went further, c<a href="https://twitter.com/seanmcbride16/status/1760013657751334984" rel="noopener noreferrer nofollow">onfidently predicting</a> that the XRP ETF will be available either this year or in 2025.</p>
<h3 class="wp-block-heading" id="h-global-investment-opportunities">Global Investment Opportunities</h3>
<p>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</p>

US Will Soon Have XRP ETF Says Uphold Head of Research

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