Crypto NewsNewsWhile Everyone Waits for XRP Spot ETF Approval, There's Another Positive Development...

While Everyone Waits for XRP Spot ETF Approval, There’s Another Positive Development for XRP

According to crypto journalist Eleanor Terrett, another positive development for Ripple (XRP) has arrived ahead of spot ETFs.

Follow Bitcoin Sistemi Google News Button

According to Fox Business correspondent Eleanor Terrett, accredited investors will soon have a new way to gain exposure to XRP without purchasing the coin directly.

Terrett recently revealed that XRP Depository Receipts (XRP DRs) are available for purchase through RDC and Digital Wealth Partners. The structure is similar to American Depository Receipts (ADRs) representing shares of foreign companies and allows investors to gain exposure to an asset without trading directly on cryptocurrency exchanges.

Terrett explained that XRP DRs are very similar to exchange-traded funds (ETFs) and offer an alternative for investors looking to access XRP through traditional finance (TradFi) channels. The receipts will be stored by Anchorage Digital, a federally chartered bank regulated by the Office of the Comptroller of the Currency (OCC).

Related News  Standard Chartered Reveals: Bitcoin Price Could Be On The Verge Of A Serious Breakout - “If Nothing Extraordinary Happens, BTC Price...”

“In short, it’s another way to bridge the gap between TradFi and DeFi,” Terrett said.

The launch of XRP DRs could increase institutional adoption of XRP by providing a regulatory-compliant investment vehicle for firms and high-net-worth individuals. However, while there have been applications for an XRP Spot ETF, it is unknown whether the SEC will approve these applications under the new administration.

*This is not investment advice.

Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Buradaki Yorumlardan Bildirim Al
Bildir
guest

0 Comments
Latest
The oldest Top Rated
Inline Feedbacks
View all comments

Popular Posts of the Week