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- Ripple slashes SEC fine from $2 billion to $50 million, paving the way for XRP ETF possibilities.
- Nate Geraci expects BlackRock and Fidelity to join Franklin Templeton in the XRP ETF race.
- XRP’s $144B market cap places it above major firms like Boeing and Citigroup, drawing institutional attention.
BlackRock and Fidelity plan to enter the competition to create an XRP exchange-traded fund. ETF analyst Nate Geraci emphasized the likelihood of establishing these products as he shared his predictions with the market.
The resolution of extended legal ambiguity led to better adoption prospects for Ripple with industry institutions as Ripple’s legal chief, Stuart Alderoty, was a central figure in the proceeding.
The SEC’s legal defeat against Ripple helped recuperate XRP supporters’ faith and improve the adoption prospects for Ripple from industry institutions.
When Stuart Alderoty acted as Ripple’s top legal officer, he played a major role in this crucial period. The firm negotiated down the original $2 billion penalty amount to settle for $50 million. Part of this agreement includes the planned withdrawal of the existing injunction, and the SEC has indicated that it will officially request its cancellation.
Industry Giants Set Sights on XRP ETF Despite Initial Hesitations
Industrial experts believe BlackRock could change its stance about altcoin ETFs after keeping away from them previously. A major asset like XRP cannot escape detection since competitors continue developing their initiatives.
The asset management firm Fidelity plans to start its pursuit of launching an XRP ETF. XRP token adoption would gain major institutional support because of this institutional development.
The largest financial institution, Franklin Templeton, has committed to developing an XRP exchange-traded fund. Through its management of $1.5 billion in assets, Franklin Templeton has proven to be the most significant institutional support in showing market interest in XRP.
The XRP digital asset maintains a strong position among market capitalization leaders in the digital asset rankings. According to CoinGecko, XRP’s current market value stands at $144 billion thus XRP’s value surpasses the worth of Boeing, Shopify, Citigroup, and various other publicly traded companies.
The legal decision resulted in a crucial achievement that served both Ripple and XRP equally well. Due to regulatory clearance, institutions are expected to rapidly explore investment products based on the underlying asset.
An upcoming XRP ETF market would increase cryptocurrencies’ mainstream acceptance and market stability. Professional analysts believe the possible entrance of BlackRock and Fidelity demonstrates growing institutional trust in cryptocurrency-based financial products.
Conclusion
The market value of XRP begins to transform due to the establishment of regulatory clarity. Large financial institutions that enter the XRP market will transform investor access to these assets, indicating wider acceptance among mainstream investors.
Also Read: Ripple CEO Hints at Possible Reduction in XRP Sales Amid Ongoing Criticism
