- 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.
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.