Famous influencer: After Bitcoin and Ethereum, it will be Ripple ETF's turn

Study time: 2 minutes

Ripple (XRP), the sixth-largest cryptocurrency by market capitalization, is likely to see the launch of an exchange-traded fund (ETF) this year and an application in the next few months.

In a video that will no doubt excite members of the XRP community, well-known cryptocurrency influencer Ben Armstrong hinted at the upcoming launch of a Ripple ETF.

Based on information, he said:

As the US Securities and Exchange Commission (SEC) lawsuit against Ripple closes, the network may file for a Ripple ETF in April.

Referring to spot bitcoin ETFs, the XRP community has argued that the cryptocurrency deserves a similar ETF launch. Importantly, they emphasized that XRP is the only altcoin with legal clarity, following a court ruling that the digital asset was not a security last year.

DArmstrong echoed the prevailing sentiment in the XRP community, noting that Ripple's legal clarity would make it more feasible to launch an ETF for the cryptocurrency.

He also said that Blackrock, the world's largest asset management company and one of the leading managers of spot bitcoin ETFs, will lead the Ripple ETF launch.

Speculation on the issue has increased after Grayscale re-introduced XRP to its digital mega-investment fund after a two-year hiatus.

Meanwhile, despite the resurgence of digital currency prices, XRP continues to stagnate and repeat sporadic growth.

Ripple is currently trading at $0.5647 after gaining 1.26% in the last 24 hours. However, in the weekly chart, the price of this cryptocurrency has decreased by 8.59% and in the last 30 days, it has decreased by 12%.