© Reuters
NEW YORK – Gemini, a major cryptocurrency exchange, has piqued the interest of the XRP community through a series of cryptic posts on social media. These posts have sparked discussion and speculation among investors and enthusiasts about the potential launch of a Spot XRP exchange-traded fund (ETF) in Europe. The speculation aligns with Gemini’s recent advances in regulatory compliance and product offerings, particularly following its approval as a Digital Asset Service Provider (DASP) in France.
Speculation has gained momentum due to a major court ruling that recognized XRP as a currency rather than a security. This distinction is essential in the context of financial regulation and prompted Gemini to reinstate XRP on its trading platform. Gemini’s re-listing of XRP includes an expansion of trading pairs, which improves the cryptocurrency’s accessibility for traders.
Gemini’s decision to relist XRP and rumors of a possible Spot XRP ETF follow its appointment as custodian of VanEck’s Spot Bitcoin ETF. The custodian role is crucial in the ETF ecosystem, as it involves custody of the underlying assets of the fund, providing an additional level of security and confidence to investors.
The broader context of these developments is the ongoing legal battle between the United States Securities and Exchange Commission (SEC) and Ripple Labs, the company behind XRP. The outcome of this case is expected to have a substantial impact on the regulatory environment for XRP and could influence the decisions of investment companies. Notably, industry giants like BlackRock are closely monitoring the situation, given the potential implications for the digital asset market.
The combination of Gemini’s regulatory progress in Europe, the XRP-friendly court ruling, and the exchange’s role in established ETFs has led to increased anticipation of what could be a milestone for XRP in the world of ‘investment.
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