This prediction by Geraci is largely based on the SEC's formal acknowledgment of a 19b-4 filing from Nasdaq. This filing, if approved, would permit BlackRock's iShares Ethereum Trust to offer staking services to its investors. Geraci views this as the final crucial item on his checklist for Ethereum ETFs, initially outlined in November. The approval of staking would enable ETH holders within these ETFs to earn passive rewards by locking up their tokens, thereby introducing a new layer of yield potential that is highly attractive to participants in traditional finance.
Furthermore, the SEC has already given its nod to in-kind creation and redemption mechanisms for both Bitcoin and Ethereum ETFs. This indicates a current regulatory focus on refining and solidifying the operational structures of already approved crypto ETFs, rather than rapidly expanding the lineup with new digital assets such as XRP.
While the crypto community eagerly awaits broader ETF approvals, the current regulatory trajectory suggests a cautious, step-by-step approach from the SEC. This approach prioritizes the robust implementation and additional functionalities within existing approved products before venturing into new territories. For XRP enthusiasts hoping for an ETF, it appears patience will be a virtue, as the regulatory spotlight remains firmly on Ethereum's evolving ETF landscape for the time being.