While everyone awaits the XRP Spot ETF Approval, Another Positive Development Came for XRP!

According to cryptocurrency journalist Eleanor Terrett, another positive development came for Ripple (XRP) before spot ETFs.
According to Fox Business reporter Eleanor Terrett, accredited investors will soon have a new way to be exposed to XRP without directly buying the coin.
Terrett recently announced that XRP Deposit Receipts can be purchased through RDC and Digital Wealth Partners. This structure is similar to American Depositary Receipts (ADRs) representing shares of foreign companies and allows investors to be exposed to an asset without directly trading on cryptocurrency exchanges.
Terrett explained that XRP DRs closely resemble ETFs traded on the stock exchange, and provide an alternative for investors who want to access XRP through traditional finance channels, known as TradFi, stating that Receipts will be stored by Anchorage Digital, a federally authorized bank regulated by the Currency Comptroller's Office (OCC).
"In short, it's another way to bridge the gap between TradFi and DeFi," Terrett said.
The release of XRP DRs could increase the institutional adoption of XRP by providing a regulatory compliant investment vehicle for companies and high-net-worth individuals. However, while there have been applications for an XRP Spot ETF, it is unknown whether the SEC will approve these applications under the new management.
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