Spot

<p>Some crypto market analysts have weighed in on what must happen before the <a href="https://www.newsbtc.com/crypto/sec-announcement-crypto/#:~:text=What%20The%20SEC's%20Latest%20Announcement%20Means%20For%20The%20Crypto%20Industry,-by%20Scott%20Matherson&amp;text=A%20recent%20announcement%20by%20the,actions%20have%20had%20on%20it." rel="nofollow noopener" target="_blank">Securities and Exchange Commission</a> (SEC) can approve a <a href="https://bitcoinist.com/crypto-expert-xrp-etf-approved/">Spot XRP ETF</a>. Calls for this kind of investment fund have become louder since the Commission <a href="https://bitcoinist.com/breaking-spot-bitcoin-etfs-approved-by-us-sec/">approved the Spot Bitcoin ETFs</a>.</p> 
<h2 id="an-xrp-etf-isn-t-feasible-until-this-happens">An XRP ETF Isn’t Feasible Until This Happens</h2> 
<p>Sharing his opinion <a href="https://cointelegraph.com/news/spot-xrp-etf-not-coming-soon-analysts-blackrock-ripple" rel="nofollow noopener" target="_blank">with Cointelegraph</a>, CoinShares’ head of product, Townsend Lansing has mentioned that an <a href="https://bitcoinist.com/blackrock-file-for-an-xrp-etf/">XRP ETF</a> was unlikely until the SEC agreed that XRP wasn’t a security. Van Buren Capital general partner Scott Johnsson also told the media outlet that the likelihood of the Commission approving this kind of fund was “very slim.”&nbsp;</p> 
<p>In his opinion, Gary Gensler will need to be replaced before the SEC can approve an XRP ETF. CoinShares research analyst Max Shannon also thinks that it could take a long time before an XRP ETF is introduced, <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-spot-etfs-approved/" rel="nofollow noopener" target="_blank">considering how long it took</a> for Spot Bitcoin ETFs to be approved.&nbsp;</p> 
<p><a href="https://bitcoinist.com/bloomberg-analysts-take-on-spot-etf-approval-timing/">Bloomberg analyst James Seyffart</a> also recently commented on whether an XRP ETF could launch soon. Then, he <a href="https://bitcoinist.com/xrp-etf-approved-in-2024/">stated </a>that he didn’t see this happening this year. He further highlighted the <a href="https://bitcoinist.com/ripple-sec-proposed-schedule/">SEC’s case against Ripple</a> as one of the reasons for his position. He believes that an XRP ETF can only come when the case is done.&nbsp;</p> 
<p>Seyffart also <a href="https://www.newsbtc.com/analysis/xrp/xrp-spot-etf-coming-to-the-us/" rel="nofollow noopener" target="_blank">mentioned</a> last year that XRP needs to be listed on the Chicago Mercantile Exchange (CME) before the SEC can approve a Spot XRP ETF. While reiterating this point in his most recent comment, he hinted that an XRP futures ETF could be an added advantage.&nbsp;</p> 
<p><img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/Ac0OHgHv/" alt="XRP price chart from Tradingview.com (Ripple)" width="3266" height="1530"></p> 
<h2 id="why-the-sec-s-opinion-might-not-matter">Why The SEC’s Opinion Might Not Matter</h2> 
<p>Lansing mentioned that the SEC would need to agree that XRP wasn’t a security before it could approve an XRP ETF. However, considering that the <a href="https://bitcoinist.com/ripple-judge-deems-xrp-sale-non-investment-contract/">court already ruled</a> that the crypto token isn’t a security in itself, what the Commission really thinks might not matter. As such, the regulator would be cautious about using this as a reason to deny any application.&nbsp;</p> 
<p>Meanwhile, although the SEC’s case against Ripple is still in court, the Commission understands that this cannot be used as a determinant in determining whether it would approve an XRP ETF. This is because <a href="https://bitcoinist.com/breaking-grayscale-scores-victory-against-us-sec-spot-bitcoin-etf-imminent/">Grayscale has set a precedent</a> whereby the Commission can be dragged to court if it decides to act ‘arbitrarily and capriciously.’</p> 
<p>Bloomberg analyst James Seyffart, however, makes a fair point. The SEC can easily argue that its reason for denying an XRP ETF is because of <a href="https://www.newsbtc.com/bitcoin-news/sec-prove-bitcoin-is-not-manipulated/" rel="nofollow noopener" target="_blank">potential price manipulation</a>. That is where XRP trading on a regulated market like the CME comes in, as the exchange can be included in any <a href="https://bitcoinist.com/blackrock-bitcoin-btc-etf-refiled-nasdaq-coinbase/">surveillance-sharing agreement</a>.</p>

Crypto Market Expert Ripple Must Achieve This For SEC To Grant A Spot XRP ETF

목차

Bitcoinist

2024년 1월 25일에 게재된 다른 기사

Bitwise Sets Precedent with Spot Bitcoin ETF Transparency

Exploring Diverse Avenues: Ways People Will Be Making Money with Crypto in 2024

Gary Gensler Highlights Constraints Amidst Ethereum ETF Speculation

Crypto Market : What Happened to Cryptocurrency Market Today?

Bitwise Bitcoin ETF receives inscription donations

Analyzing market recovery potential: NuggetRush, Solana, and Cosmos in focus

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!