Ripple’s Spot ETF is Imminent If XRP Attains a Futures ETF

• Ripple hires a Senior Manager for Business Development in New York, with a key role related to ETFs.
• Eleanor Terrett hints at the potential launch of a Spot XRP ETF if XRP attains a Futures ETF.
• The reporter cites that the Spot Bitcoin ETF launch was mainly driven by the Bitcoin Futures ETF.

Recent reports unveiled that Ripple is hiring a Senior Manager for Business Development in New York, with a key responsibility related to ETFs. Responding to the announcement, Fox Business reporter Eleanor Terrett hinted at a potential XRP ETF launch, with the expert hiring as an initial step.

On January 27, a prominent crypto analytics platform on X, Good Morning Crypto, drew the community’s attention to the recent development in the Ripple ecosystem. With the mission of global financial equity and growth, Ripple envisions expanding its work power.

When the firm announced the vacancy for a Senior Manager for Business Development, one of the position’s key roles included “Drive cryptocurrencies related ETFs initiatives with internal trading teams and relevant partners.”

Subsequently, Terrett wrote on X that an XRP Futures ETF is a prime requirement for a Spot XRP ETF. She asserted that if XRP gets a Futures ETF, it’s “a step in the right direction” towards a potential Spot ETF. To reinforce her points, Terrett illustrated the example of the SEC’s Spot Bitcoin ETF approval, which was mainly driven by the Bitcoin Futures launch. Her words read,

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

Chinese crypto reporter Colin Wu also reflected on the matter on his official X account, Wu Blockchain. In an X post, reiterating Terrett’s ideas, Wu noted, “The Ripple job posting involves “promoting cryptocurrency-related ETF plans,” or hints that the company is preparing to apply for an XRP ETF.”

An XRP ETF launch has been a topic of discussion over the past few weeks, especially after the Spot Bitcoin ETF launch. The community is divided based on the contrasting opinions regarding a potential XRP ETF launch. However, prominent figures like James Seyffart believe the launch cannot be realized this year due to the prevailing regulatory uncertainty.