Ripple Analyst Sees No Bearish Signal in CoinShares’ Withdrawal of XRP ETF Filing

CoinShare, a cryptocurrency exchange firm, has withdrawn its application to launch an XRP-based exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The company cited procedural reasons for not proceeding further with the product. This move triggered concerns among some investors but Ripple Bull Winkle, an analyst associated with Ripple, argues it’s a positive indicator of a shift in the XRP market landscape. 21Shares, WisdomTree, Fidelity, and BlackRock are all preparing to launch their own XRP ETFs, signaling a transition toward larger, more established financial firms that can cater to institutional investors’ demands.