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BitcoinSistemi 2025-02-01 11:53:08

Bloomberg Analyst: “XRP ETF Is Coming, But This Altcoin’s ETF Will Be Approved Sooner”

Grayscale Investments filed an application two days ago to convert its XRP Trust into an exchange-traded fund (ETF). However, Bloomberg analyst James Seyffart suggests that Litecoin could be approved for an ETF before XRP. If approved, the ETF would be listed on the New York Stock Exchange and would provide investors with exposure to XRP without the complexity of direct asset ownership. The Grayscale XRP Trust currently has approximately $16.1 million in assets. “As an innovative and forward-thinking asset manager, Grayscale is committed to continually identifying opportunities to deliver products that meet client demand and expand investors’ access to digital assets and the broader DeFi ecosystem,” said Dave LaValle, Global Head of ETFs at Grayscale. Grayscale’s filing comes amid a surge in cryptocurrency ETF applications following the election of Donald Trump, whose administration is expected to take a more positive stance on the industry. Other firms are also hoping to take advantage of the expected regulatory change, with Solana, Dogecoin and Litecoin ETFs recently filing. Related News: Ripple Finally Publishes Its Last Quarter Official Report - Here's What You Need to Know Crypto advocates are closely monitoring the appointment of Paul Atkins, Trump’s pick to chair the SEC. A known supporter of digital assets, Atkins is expected to take a softer approach to securities enforcement than former SEC Chairman Gary Gensler. Despite the excitement over the XRP ETF, Bloomberg’s Seyffart warns that regulatory hurdles remain. Ongoing SEC lawsuits allege that XRP is a security, which could delay ETF approval. “There’s still more work to be done on this issue that doesn’t necessarily have to happen with something like Litecoin,” Seyffart said, adding: “The SEC has never called Litecoin a security, so I wouldn’t be surprised if you see Litecoin come first.” If confirmed as SEC chairman, Atkins could drop or resolve lawsuits against XRP, potentially paving the way for an ETF, though the timeline for such a move remains unclear. Despite regulatory concerns, Ripple President Monica Long remains confident in XRP’s ETF prospects. In a recent Bloomberg interview, she stated that an XRP ETF is “in the pipeline” and could be approved “very soon.” *This is not investment advice. Continue Reading: Bloomberg Analyst: “XRP ETF Is Coming, But This Altcoin’s ETF Will Be Approved Sooner”

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