Bitcoin ETF Approval Realizes: Is XRP ETF Launch the Subsequent?

• The XRP group anticipates a possible XRP ETF launch fueled by the SEC’s Bitcoin ETF approval.
• Bloomberg analyst James Seyffart asserts that the XRP ETF is much less prone to occur in 2024 as a result of authorized struggles.
• Valkyrie Funds co-founder Steve McClurg not too long ago acknowledged that the XRP and ETH ETF launch will observe Bitcoin ETF approval.

The crypto group is looking forward to a possible XRP ETF launch in gentle of the SEC’s approval of the Spot Bitcoin ETF launch. Nonetheless, James Seyffart, the Senior ETF Analyst at Bloomberg, hinted in any case chance of an XRP ETF approval in 2024 as a result of ongoing regulatory hurdles.

In a current interview, Seyffart shared insights on the challenges Ripple would face for regulatory approval from the Securities and Change Fee (SEC) to introduce an ETF. He cited,

I’ve been telling everybody the best way I view it’s that Bitcoin and Ethereum are off on a pedestal on their very own for probably getting accredited this 12 months. The one distant chance would, I suppose, be XRP, however I don’t assume that’s occurring this 12 months except the court docket case is totally accomplished. Proper now, they’re nonetheless difficult this in court docket; it’s not utterly accomplished. The SEC is actually combating in opposition to Ripple in court docket.

Notably, the analyst’s phrases contradicted Valkyrie Funds co-founder Steve McClurg’s current feedback on the XRP ETF launch. In an interview, McClurg noticed a potential approval of XRP or Ethereum’s ETF launch following Bitcoin ETF approval. He asserted, “It wouldn’t shock me if we noticed Ripple or Ethereum spot ETFs on the market.”

In accordance with Fox Enterprise journalist Eleanor Terrett, people belonging to the crypto group held contrasting opinions on the launch of the XRP ETF. Whereas bulls strongly anticipated the launch, primarily as a result of XRP’s “regulatory readability,” bears remained pessimistic about such a improvement.

Distinguished figures like Panos stay optimistic concerning the XRP ETF launch, although they don’t seem to be positive when it’s going to occur. Panos shared an X thread, stating, “An XRP ETF is simply a matter of time.”

Whereas the long-awaited Bitcoin ETF approval has been realized with the SEC’s landmark transfer, the query of the XRP ETF launch stays unanswerable. Reflecting on the distinguished figures’ differing opinions on the matter, the XRP group keenly observes developments in anticipation of a constructive consequence.