Whether other altcoin ETFs will be accepted after spot Bitcoin and Ethereum ETFs remains a matter of curiosity, while investors eagerly await another crypto ETF.
At this point, while some companies have applied for Solana (SOL), XRP and Litecoin (LTC), Chicago Mercantile Exchange (CME) Group Senior General Manager Tim McCourt said that the first big step towards ETFs has already been taken.
Speaking at Ripple Swell 2024, McCourt signaled that they are laying the groundwork for an XRP ETF.
McCourt noted that CME has already created an XRP reference rate and real-time index, indicating the first steps towards an XRP ETF.
“….We have an XRP reference rate and a real-time index, which is the first step towards building an XRP ETF ecosystem.
“We have over 50 real-time prices and reference rates outside of XRP. This is important for product providers like Bitwise because they can at least point to a fully regulated benchmark.”
These statements come a week after Canary Capital filed its second XRP ETF application with the SEC, with McCourt noting that ETFs are accelerating the growth of the crypto industry.
“…There are investors specifically looking for access to enterprise-level blockchain solutions and native tokens like XRP,” Canary Capital said in its filing.
*This is not investment advice.