A bet that could be played for #XRP , which could not make the expected breakout amid bullish predictions, has been put forward.
Tim McCourt, senior managing director of CME Group, clarified whether $XRP 's spot ETF would be launched. McCourt reported that the first big step for XRP had been taken and that more developments could come to the fore soon.
McCourt said: “We have an XRP reference rate and a real-time calendar, which is the first step in creating the ecosystem. We have over 50 real-time prices and reference rates. That data is very important for product providers like Bitwise, at least they have access to a completely clean benchmark.”
McCourt, who claimed that the index would open the doors to a potential XRP ETF, did not mention the legal battle between the SEC and Ripple.
Will XRP become institutional?
After the launch of the spot Bitcoin and Ether ETFs, the eyes turned to altcoins. Investors expect XRP and Solana ETFs to have a positive impact on the crypto market.
Speaking at Ripple Swell 2024, Tim McCourt reported that an important step has been taken for the launch of the spot XRP ETF. The statements in question came after Canary Capital applied for the XRP ETF for the second time. Canary became the second provider to finance the XRP ETF after Bitwise Asset Management.