Stating that Bitcoin Spot ETFs are likely to be approved, Valkyrie manager Steven McClurg said: Ripple (XRP) And Ethereum He said it might come to spot ETFs. However, the cryptocurrency community seems divided on the likelihood of this happening.
Cryptocurrency journalist Eleanor Terrett shared insights from conversations with industry insiders, revealing her range of views on whether the U.S. Securities and Exchange Commission will approve a single-product XRP spot ETF.
According to Terrett’s study, supporters argue that XRP is the only digital asset to receive any “regulatory clarity” from the courts. In July, a US district judge ruled that the XRP token was not a security and that Ripple did not break the law when selling XRP to retail investors on exchanges.
They also look at XRP’s relisting on major exchanges and its recent inclusion in Grayscale’s Digital Large Cap Fund as a positive sign that the asset will be included in future funds.
On the other hand, according to Terrett, opponents argue that SEC Chairman Gary Gensler Bitcoin aside from his apparent abandonment of most digital assets, including XRP and possibly even Ethereum (ETH) He believes that means other single-product ETFs like crypto regulation will be a difficult task without Congressional intervention or a change of administration (one that is friendlier to digital assets).
Some even think that Gensler’s approval of Bitcoin spot ETFs will “solidify the distinction between Bitcoin and other cryptos” in the eyes of the SEC.
*This is not investment advice.
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