Ripple preparing to apply for XRP ETF listing New job information

9 months ago 87

ETF related jobs

Ripple appears to be preparing to apply for XRP to be listed on an ETF. New related job information has been posted on the official page.

The company is currently recruiting for a senior manager in the business development department in the field of “DeFi for institutional investors.” Regarding his duties, there is an item that says, “Promote cryptocurrency-related ETF initiatives with the company’s trading team and related partners.”

On the other hand, there is limited mention of ETFs and no details on how they will be developed.

In addition to the ETF items, there are also other topics such as “Co-develop and execute Ripple’s business development strategy for institutional investors with a cross-functional team” and “Tokenize real-world assets (RWA) and use DeFi protocols.” Key responsibilities include identifying financial institutions, crypto-native companies, and other partners interested in doing business with and pursuing new opportunities.

In a CNBC interview on the 16th of this month, Ripple CEO Brad Garlinghouse predicted that a physical Ethereum ETF could be approved in the near future, following the debut of the first Bitcoin spot ETF in the United States. Additionally, he declined to comment on the approval of XRP ETFs.

Is the presence or absence of futures the key?

After the approval of the Bitcoin ETF, it is expected that the Ethereum spot ETF will likely be approved next, but some say it is still too early for other altcoin ETFs.

Fox News reporter Eleanor Terret points out that in order to launch a spot ETF for XRP (or any other crypto stock), a futures ETF must first exist. He said the approval of the Bitcoin spot ETF was based on the SEC’s conclusion that CME’s Bitcoin futures market was sufficient to monitor fraud and manipulation.

The CME market for derivatives trading has mechanisms in place to make it easier for trading entities to detect fraud, market manipulation, and other irregularities.

In order to have an $XRP spot ETF, there will first need to be a futures ETF.

Part of getting the $BTC spot ETFs approved was the @SECGov concluding that the CME bitcoin futures market would suffice to provide surveillance for fraud and manipulation.

If $XRP gets a futures ETF… https://t.co/MPFVSherXK

— Eleanor Terrett (@EleanorTerrett) January 27, 2024

On the other hand, XRP CME futures and futures ETFs do not yet exist, and the lawsuit between the SEC and Ripple over XRP securities issues is still ongoing.

connection: US SEC seeks XRP sales contract in lawsuit against Ripple

connection:What is the exchange-traded fund “Bitcoin ETF”? | Why BlackRock’s application is attracting attention