Yassin Mobarak, the founder of Dizercapital, highlighted reasons why Wall Street institutions might explore filing for an XRP Spot ETF in the United States.
In a recent tweet, Mobarak urged Wall Street institutions to boldly explore the potential of an exchange-traded fund directly investing in XRP. He emphasized that this move should be a crucial consideration, especially since the first mover advantage for Bitcoin (BTC) and Ethereum (ETH) Spot ETFs has already been taken.
Mobarak provided strategic insights into the XRP market, emphasizing why Wall Street funds should consider an XRP spot ETF.
Key Institutional Interest in XRP Positions Mobarak pointed out significant pent-up demand among institutions to secure regulated positions in XRP. He highlighted how a fake online post about BlackRock filing for an XRP spot ETF quickly impacted XRP’s price, indicating strong demand for an XRP ETF.
Reportedly, XRP surged from $0.665 to over $0.73 in less than 30 minutes in response to the fake ETF filing news.
Untapped Potential for XRP Spot ETFs Additionally, Mobarak noted that unlike BTC and ETH, no institution has yet applied for an XRP spot ETF. He mentioned this as an opportunity for potential market leaders and suggested that being the first to file could offer strategic advantages for a Wall Street fund.
A Challenge to the SEC Mobarak proposed that filing for an XRP spot ETF could be a bold move challenging the U.S. Securities and Exchange Commission (SEC) after the XRP court ruling.
He expressed curiosity about the SEC’s response to such a filing, inviting institutional funds with substantial capitalization to consider submitting an application for an XRP ETF, daring the regulator to deny it.
Mobarak highlighted the legal implications, suggesting that a denial could intensify legal developments, given the court ruling that XRP is not a security.
He argued that the risk-to-reward ratio for an XRP spot ETF is compelling, suggesting that the prospect of avoiding further legal battles might favor an XRP ETF approval.
Ultimately, Mobarak envisioned an approved XRP spot ETF triggering significant market movements.
