Could an XRP ETF Happen Sooner Than We Thought? Hopes Rise as 21Shares Files for SEC Approval

The launch of a crypto ETF usually triggers a price rally for the token. This happened with Bitcoin and Ethereum. Hence, there's been high anticipation that other major tokens will have an exchange-traded fund.  Recently, hopes for Ripple ETF approval have risen as crypto ETF issuer 21Shares filed for an XRP ETF in the U.S. While XRP will eventually have an ETF, the question remains, ‘How soon will this happen?’ With the recent application, will it be sooner than we thought?

21Shares Files for XRP ETF Approval

21Share filed an S-1 form with the Securities Exchange Commission on the first of November. The Swiss crypto ETF issuer sought the approval of an XRP ETF. This has fueled hopes in the crypto community about the approval of the XRP Spot ETF.   21Shares is not the only firm that has made this positive move. In October, there were rumors that Bitwise applied for an XRP ETF. A Bitwise spokesperson later confirmed that this was true. Canary Capital also made the same move after Bitwise's submission.  Approval of the Spot XRP ETC could lead to a massive rally. Analysts are very bullish, and many have predicted it could rally to $5. However, how soon can the XRP ETF be approved?

Will XRP ETF Be Approved Sooner Than We Thought? Two Determining Factors

As Ripple's CEO, Brad Garglinghouse, said, launching an XRP ETF is inevitable, but how soon can it be launched? Two major factors will determine this:

The U.S. Presidential Election Result

Although candidate Kamala Harris commented on supporting digital assets, Donald Trump is known as the crypto-friendly candidate. As a result, if he wins, the crypto space is expected to thrive, including faster approvals for ETFs. Trump will most likely sack Gary Gensler, who people see as against digital assets.  Many analysts, such as senior ETF analyst Eric Balchunas of Bloomberg Intelligence, also believe this. Should Harris win, he warned that ETF approvals would not take place. According to the Polymarket betting website, Trump has more than a 54% chance of defeating Harris. With the high chances of a pro-crypto candidate winning, the XRP ETF might be approved earlier than we guessed. However, if things take a different turn and he loses, there are fewer chances of that happening any time soon. 

SEC Appeal

The October SEC appeal in the Ripple case is critical to the XRP ETF’s potential launch date. After the SEC requested an extension for the opening brief, the U.S. Courts of Appeal approved it, postponing it to January 15, 2025.  With the timeline shifted, the SEC vs. Ripple case will drag on longer and could last until mid-2026. Thus, with the case unresolved, there are near zero chances of the ETF approval coming before 2026.  However, a Trump win could change the regulatory scene, possibly leading to a withdrawal of the SEC appeal. However, this is only speculation.  Besides, VanEck, 21Shares, and Canary Capital have filed for the Solana ETF, which is more likely to be approved before Ripple's. Therefore, despite the optimism, an XRP ETF approval is not likely to happen soon.

Rexas Finance (RXS): Another Altcoin To Watch Amid XRP ETF Buzz 

Although the approval of Ripple's ETF could take years, Rexas Finance offers investors a faster chance to profit. Rexas Finance distinguishes itself as a promising project that aims to transform the financial landscape through the tokenization of real-world assets.  Rexas Finance leads the way by finding a unique investment angle for investors. It breaks the cost barrier through asset tokenization by making assets available in fractions and ensuring global access to them.  The speed of its presale reflects the widespread interest in the project. Since its launch in September, it has sold out in four stages. By the end of stage 4, it had raised over $5.6 million, selling 110 million RXS tokens. It's currently in stage 5, and the token is priced at $0.07. The next stage will be valued at $0.08, with an ultimate launch price of $0.20. Additionally, RXS has been featured on CoinMarketCap and CoinGecko, allowing investors to easily track the coin in real time. Rexas Finance ecosystem also accommodates a wide spectrum of investors. Whether you plan to invest in real estate or NFTs, yield farming, or tokenize your RWA assets, there are tools available at your fingertips. Among these tools are Rexas GenAI, which creates premium digital artwork for NFTs, and Token Builder, which simplifies asset tokenization. Rexas Estate makes real estate investment possible, while Rexas Treasury allows investors to earn compound interest. Rexas Finance has so far proven to be an inclusive platform that can easily attract any class of investor. Its ongoing giveaway, which will give $20,000 to 20 lucky winners, presents an opportunity for investors to win cash prizes.  Buying RXS now at its low presale price also allows investors to earn massively when its value skyrockets post-launch. Its plan to launch on three of the top-tier exchanges already sets it up for big returns and widespread adoption. 

Conclusion 

Despite the high anticipation of Ripple's ETF approval, it's most likely not happening soon because of the SEC appeal. This dampens the potential for a massive rally following the ETF launch. However, Rexas Finance is already positioned for a strong breakout after its launch, making it a must-buy now for exponential gains.

About Rexas Finance :-

Website: https://rexas.com