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Gemini Sparks Buzz with Potential Launch of Spot XRP ETF in Europe

by Sham
January 25, 2024
in BUSINESS, CRYPTO, FINANCE
Reading Time: 3 mins read
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  • Gemini has made regulatory strides in Europe, fueling speculation of a potential XRP exchange-traded fund (ETF) launch
  • A court ruling classifying XRP as a currency rather than a security was significant, prompting Gemini to relist XRP
  • Gemini’s role as custodian for a Bitcoin ETF demonstrates its expertise, positioning it as a strong candidate for a possible XRP ETF

Gemini, a prominent cryptocurrency exchange, has sparked speculation about launching a Spot XRP Exchange-Traded Fund (ETF) in Europe through cryptic social media posts. This aligns with Gemini’s regulatory strides and expanded offerings in Europe.

JUST IN: Gemini exchange (@Gemini) made 4 cryptic $XRP related posts in a row

Speculation around an EU-based Spot XRP ETF is rising pic.twitter.com/PnLwc5eTVe

— BlockNews.com (@blocknewsdotcom) January 22, 2024

Gemini’s Regulatory Compliance in Europe

Gemini was recently approved as a Digital Asset Service Provider (DASP) in France. This follows the exchange’s pattern of pursuing regulatory compliance across Europe. Approval as a DASP enables Gemini to provide more extensive crypto services in France.

Significance of Court Ruling for XRP

Speculation of a potential XRP ETF is fueled partly by a court ruling that classified XRP as a currency rather than a security. This distinction is crucial in financial regulations and prompted Gemini to relist XRP on its platform.

Gemini’s Track Record with ETFs

Gemini was recently appointed custodian for VanEck‘s Spot Bitcoin ETF. As custodian, Gemini safeguards the ETF’s underlying assets. This demonstrated expertise positions Gemini as a strong candidate for a potential XRP ETF.

Outlook for XRP in Investment World

Based on Gemini’s regulatory progress, the favorable XRP ruling, and its ETF custodian role, anticipation is building around a possible XRP ETF. This could significantly advance XRP adoption in the investment sector.

Tags: Bitcoin ETFETFGeminixrpXRP ETF
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