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Ripple is likely collaborating with BlackRock to create a U.S.-based XRP spot exchange-traded fund (ETF), buoyed by favorable news in its case against the SEC. The SEC's action to withdraw its appeal and Ripple's concession to settle for a reduced fine of $50 million have brightened the chances of approval of XRP ETF.
The chances of XRP ETF approval have now gone up to 87% as investors anticipate and analysts are in a better mood. Professionals such as Nate Geraci, the President of The ETF Store, believe that behemoth institutional fund managers such as BlackRock and Fidelity will enter the game of XRP ETFs given that XRP is the third-largest non-stablecoin crypto by market capitalization.
Historically, BlackRock's entries into comparable markets, like Bitcoin ETFs, have triggered institutional demand and massive liquidity. A pending approval of an XRP ETF has important potential for cryptocurrency markets to stimulate increased liquidity and institutional demand into XRP.
