Jupiter Asset Management recently moved to cancel its partnership with the 21Shares Ripple (XRP) exchange-traded product because of regulatory issues faced in Ireland. Jupiter invested over 2 million into the fund and didn’t lose much by pulling out of the investment.
The catalyst for the decision was Jupiter’s compliance team detecting a non-compliant trade involving one of its Irish funds. As a result, its Ripple ETP holding was liquidated for $2,570,670. Jupiter’s cancellation of its ETP comes at a time when rumors about an XRP exchange-traded fund being approved by the US Securities and Exchanges Commission (SEC) are intensifying in the crypto space.
InQubeta (QUBE) is an emerging crypto that’s expected to be one of the fastest-growing projects in 2024. It hosts an Ethereum (ETH) based decentralized crowdfunding ecosystem that looks to make investments in artificial intelligence easier for regular investors to access. Its objective is to provide a more accessible and efficient alternative to mainstream investment channels.
InQubeta (QUBE) touted as the best DeFi coin to invest in this year
InQubeta has emerged as a favorite among cryptocurrency investors as its presale raises over $10 million with three more stages to go. It’s been a lucrative venture for early investors so far, earning them 220% returns.
QUBE is currently priced at $0.0224 per token and its supply is limited to $1.5 billion. Prices are anticipated to surge as much as 10,000% once the presale concludes and tokens can be traded on exchanges.
InQubeta’s investment ecosystem positions it at the intersection of blockchain technology and artificial intelligence: two of the most disruptive tech revolutions launched in the past couple of decades. Investments in AI are increasing exponentially and InQubeta aims to address the fundraising challenges startups in the space face.
InQubeta shares the Ethereum network’s functionality, allowing startups to create non-fungible tokens that serve as digitized proof of investment opportunities being offered to those who are willing to help fund these companies.
NFTs are added to the ERC20 token list and QUBE holders can obtain equity in AI startups by acquiring their NFTs with QUBE. They can keep these tokens for as long as they wish or resell them on the NFT marketplace whenever they choose.
Artificial intelligence will change how many industries operate and it will create rare investment opportunities to build substantial wealth. InQubeta’s solution now allows people who can’t meet the net worth and income requirements that many traditional investment firms have to securely invest in the technology and reap the rewards that follow.
Jupiter cancels its Ripple (XRP) ETP
The 21Shares Ripple ETP (AXRP) that Jupiter invested in yielded 31.7% one-year returns, but it lost about 13.2% of its value during the last six months. Jupiter’s recent decision to back away from the 21Shares ETP isn’t expected to have any impact on the possibility of an XRP ETF being approved by the US Securities and Exchange Commission (SEC).
The biggest obstacle spot XRP exchange-traded funds faces is its ongoing legal issues with the SEC. The project received a favorable decision in 2023 when a judge ruled it wasn’t a security, and Brad Garlinghouse, Ripple’s CEO, remains optimistic about an ETF being approved in the future now that Bitcoin ETFs have been launched.
Ethereum ETFs are projected to be approved by May this year, but it could take a couple of years before the path is paved for an XRP exchange-traded fund.
Summary
QUBE is one of the best altcoins to buy now given its 100x growth projections. Its ecosystem opening up AI investments while making it easier for startups to secure funding positions it for exponential growth. XRP is an altcoin to watch given how low prices currently are at $0.52. XRP investors should be willing to hold their tokens for some time given all the legal uncertainty surrounding the project.
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