Bitrabo Editorial
Swedish Virtune asset manager has expressed admiration for XRP, highlighting its advantageous features. This appreciation follows the unveiling of a new exchange-traded product (ETP) by the firm, aimed at providing investors with exposure to XRP.
Efficient for International Transfers
Virtune emphasized in a press release that XRP stands out as an excellent choice for international transfers due to its lightning-fast transaction speeds. The asset manager lauded XRP for its unrivaled transparency and reliability, attributes attributed to its robust and secure blockchain technology.
Moreover, Virtune praised XRP for its minimal transaction fees, especially beneficial for sizeable transfers, and noted the support of a robust community alongside backing from Ripple, a prominent player in the fintech sector.
Virtune’s commendation underlines XRP’s growing significance in revolutionizing cross-border payments, with Ripple positioning itself as a compelling alternative for global transactions through its Ripple payment platform.
Launch of First XRP ETP on Nasdaq
Virtune presented its XRP ETF on Nasdaq Stockholm, offering institutional investors a channel to invest in XRP. CEO Christopher Kock disclosed that this ETP marks Nasdaq’s introduction to XRP and is fully backed by XRP stored with Coinbase, the appointed custodian.
The awaited possibility of an XRP ETF in the US could materialize as seen with other crypto ETF applications, shaping a potential path for a Spot XRP ETF after recent developments in the market.
Ripple’s CEO, Brad Garlinghouse’s optimism indicates a promising future, foreseeing the dawn of Spot XRP ETFs alongside other notable digital assets. He remains positive that increasing regulatory clarity may pave the way for a Spot XRP ETF launch in due course.
As of the latest update, XRP is traded at approximately $0.47, showing a positive trend in the past 24 hours based on data from CoinMarketCap.