Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
XRP ETF Moves Forward As CME Develops XRP Index: Report

XRP ETF Moves Forward As CME Develops XRP Index: Report

CryptotaleCryptotale2024/10/16 06:47
By:Arslan Tabish
XRP ETF Moves Forward As CME Develops XRP Index: Report image 0
  • CME launches XRP reference rate and index, advancing XRP product development.
  • SEC reviews two XRP ETF proposals from Bitwise and Canary Capital for institutional access.
  • Analyst says XRP ETF approval may hinge on Trump’s election victory, despite challenges.

CME Group’s Senior Managing Director Tim McCourt spoke about the advancement of XRP-based ETFs at Ripple Swell 2024. He revealed that CME has launched an XRP reference rate and real-time index, which is a major advancement towards the growth of the XRP community. 

SEC Reviewing Proposals

McCourt’s remarks are made as the US Securities and Exchange Commission (SEC) is reviewing two XRP ETF proposals. Canary Capital filed after Bitwise Asset Management made its filing earlier. Both companies want to provide institutional investors access to XRP through their ETFs.

Geraci, the President of the ETF Store, shared his insights into the difficulties these applications encounter in an interview on the Thinking Crypto podcast. In the opinion of Geraci, one of the main problems is the absence of XRP futures contracts on the CME. Bitcoin and Ethereum ETFs were anchored on the existence of future contracts of these cryptocurrencies by CME. Since there are no futures contracts of XRP, the SEC could be hesitant to greenlight ETFs related to the cryptocurrency.

Political Influence on ETFs

As for the possibility of approving XRP ETFs, the expert said that it can only improve if Donald Trump wins the upcoming U.S. presidential election. Trump’s win would likely improve the regulatory climate for cryptocurrencies.

However, Geraci cautioned that the approval is not certain even if Trump wins the presidency again. The SEC would probably demand a co-surveillance agreement to avoid market fraud. Geraci also highlighted that the clear regulatory environment of Congress is important for the future of XRP ETFs and other cryptocurrencies. He said that such a framework will assist in determining which of the crypto assets are securities with a view of helping regulators and market players.

This is a positive development; however, there are still many issues to address when developing a regulated XRP benchmark. Changes in the political landscape and legal framework may affect the prospects and time frame of XRP ETFs’ launch. Until such issues are solved, the future of XRP ETFs will remain unknown.

The post XRP ETF Moves Forward As CME Develops XRP Index: Report appeared first on CryptoTale.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — HOLO/USDT!

Bitget Announcement2025/09/12 07:46

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA2025/09/12 06:14
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA2025/09/12 06:14
OPEN has dropped by 189.51% within 24 hours during a significant market pullback

New spot margin trading pair — LINEA/USDT!

Bitget Announcement2025/09/11 10:04