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Is Ripple (XRP) ETF Next? Bloomberg ETF analyst James Seyffart shared his thoughts on the approval process and possible dates of Ripple XRP ETFs. Seyffart noted that the focus is now on Ethereum spot ETFs following the SEC’s approval of a spot Bitcoin ETF. However, while there are claims that XRP ETFs could also come in addition to Ethereum, Seyffart made an assessment on XRP ETFs.
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Seyffart said about Ripple ETF
Speaking to the Thinking Crypto YouTube channel, Seyffart said that it is highly unlikely that a spot XRP ETF will be launched in the US by the end of 2024. He cited the ongoing legal process between Ripple and the SEC as the main reason for this thinking. Seyffart said, “This case is still causing uncertainty about the status of XRP, and it is not possible to talk about a spot XRP ETF until the case is over.”
Saying that “another reason besides the case is that the status of XRP is different from Bitcoin and Ethereum,” Seyffart stated that there are already futures Bitcoin and Ethereum ETFs in the US that paved the way for the approval of spot ETFs. However, he stated that this is not the case for XRP. Seyffart said, “We have regulated futures contracts and futures ETFs on CME, but we don’t have them for Ripple. Therefore, I don’t even think about the possibility of a spot ETF for XRP in 2024, let alone give it a chance.”
However, the Bloomberg analyst stated that a spot XRP ETF in the US would be possible if the XRP case is completely resolved and the regulatory environment for cryptocurrencies in the US improves, and that the potential approval could be on the agenda in 2025.