The cryptocurrency landscape is witnessing significant developments regarding XRP exchange-traded funds (ETFs). Tim McCourt, a director at the Chicago Mercantile Exchange (CME), announced at the Ripple Swell 2024 conference that a crucial step has been made in advancing XRP ETFs. This includes the establishment of a reference rate and a real-time index for XRP, which are essential components for the potential launch of these financial products. The announcement comes amidst a growing number of applications to the U.S. Securities and Exchange Commission (SEC) for XRP ETFs, indicating heightened interest in this area following the successful introduction of Bitcoin and Ether ETFs. The creation of the reference rate is viewed as a pivotal move that could pave the way for future XRP ETFs, generating considerable excitement in the crypto community.