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 <p><strong><em>Read more breaking <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> News Here</em></strong></p>  
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 <h2 id="strong-crucial-role-of-cme-role-in-xrp-etf-strong"><strong>Crucial Role of CME Role in XRP ETF</strong></h2> 
 <p><span style="font-weight: 400;">Seyffart’s argument centers around the pivotal role of the </span><span style="font-weight: 400;">Chicago Mercantile Exchange (CME),</span><span style="font-weight: 400;"> a significant derivatives exchange, in facilitating the launch of <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> futures contracts.&nbsp;</span></p> 
 <p><span style="font-weight: 400;">He posits that the availability of <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> futures on the CME could pave the way for the eventual approval of an <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> futures ETF by providing a tangible underlying asset for tracking. The analyst remarked:</span></p> 
 <blockquote> 
  <p><i><span style="font-weight: 400;">“First of all, CME would have to list XRP futures before a futures ETF would launch. And I can’t imagine them allowing a spot Ripple ETF anytime soon.”</span></i></p>  
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 </blockquote> 
 <h2 id="strong-congressional-action-regulatory-clarity-and-ripple-vs-sec-battle-strong"><strong>Congressional Action, Regulatory Clarity And Ripple Vs SEC Battle</strong></h2> 
 <p><span style="font-weight: 400;">This perspective from Seyffart follows his earlier observation that the SEC’s existing regulatory framework lacks the capacity to accommodate an <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> ETF. He reiterated this stance on the podcast, emphasizing the need for explicit legislation from the US Congress concerning cryptocurrencies.</span></p> 
 <p><span style="font-weight: 400;">Seyffart expressed:</span></p> 
 <blockquote> 
  <p><i><span style="font-weight: 400;">“Basically what it needs to happen and we keep going back, we need clarity. Congress needs to come in and issue laws.”</span></i></p> 
 </blockquote>  
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 <p><span style="font-weight: 400;">Significantly, well-defined laws about cryptocurrencies would create a more conducive environment for CME to list XRP futures, thereby enhancing the prospects of obtaining eventual SEC approval for an XRP ETF. The ongoing XRP Vs SEC lawsuit will largely impact the stance of US lawmakers towards crypto.&nbsp;</span></p> 
 <p>Ripple is not alone in its fight against US SEC.&nbsp; Largest crypto exchange in US Coinbase was also recently sued by SEC and result is pending in Coinbase Vs SEC case. 67 crypto tokens with a combined market cap of $100 billion were called as securities by the US SEC.</p> 
 <p>Recently first crypto regulatory framework in US was approved House Financial Services Committee in a 35-15 vote.</p> 
 <h2 id="strong-demand-and-issuer-perspective-strong"><strong>Demand and Issuer Perspective</strong></h2> 
 <p><span style="font-weight: 400;">In a </span><span style="font-weight: 400;">separate vein</span><span style="font-weight: 400;">, Seyffart also touched upon the lack of significant demand for an XRP ETF. Given the absence of substantial demand, ETF issuers are less incentivized to pursue the development of an XRP ETF.</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">Gemini following @coinbase and listing #<a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a>. Been asked a few times in last few weeks about an <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> ETF. Don't think there's enough to launch an <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> ETF with this SEC. And there seems to be essentially zero demand from issuers to try https://t.co/t3PQeqbKvI</p> 
  <p>— James Seyffart (@JSeyff) August 10, 2023</p> 
 </blockquote> 
 <p></p> 
 <p><span style="font-weight: 400;">Ultimately, the Bloomberg ETF analyst contends that the listing of XRP </span><span style="font-weight: 400;">futures on the CME</span><span style="font-weight: 400;"> is a crucial precursor to any potential launch of an XRP ETF approved by the SEC. He also emphasizes the importance of regulatory clarity through Congressional action.</span></p> 
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Is A XRP ETF Next?

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