Spot

<p>Since the <a href="https://bitcoinist.com/breaking-spot-bitcoin-etfs-approved-by-us-sec/">Spot Bitcoin Exchange-Traded Funds (ETFs) were approved</a>, market experts have continued to give their opinions on the possibility of other crypto ETFs, such as an <a href="https://www.newsbtc.com/analysis/xrp/xrp-spot-etf-coming-to-the-us/" rel="nofollow noopener" target="_blank">XRP ETF</a> launching soon. <a href="https://bitcoinist.com/ripple-ceo-battle-sec/#:~:text=Ripple's%20CEO%2C%20Brad%20Garlinghouse%2C%20has,SEC)%20continues%20to%20heat%20up.">Ripple’s CEO Brad Garlinghouse</a> has now joined the conversation, as he recently commented on whether or not the market could witness other crypto funds soon enough.&nbsp;</p> 
<h2 id="there-will-be-other-etfs">“There Will Be Other ETFs”</h2> 
<p>Garlinghouse mentioned during an appearance at the Paris Blockchain Week that he “thinks there will be other ETFs.” However, he added that this will take “a little bit of time” because of 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’s (SEC)</a> reservations about crypto assets. The Commission is known for its enforcement actions against several crypto projects, including Ripple.</p> 
<p>Meanwhile, <a href="https://bitcoinist.com/ripple-ceo-dogecoin-details/">Garlinghouse</a> further suggested that XRP would be among those crypto assets with its ETF when the time comes, as he noted that XRP and Bitcoin were the only crypto tokens with regulatory clarity. XRP achieved this status following <a href="https://bitcoinist.com/ripple-judge-deems-xrp-sale-non-investment-contract/">Judge Analisa Torres’s ruling</a> that the crypto token wasn’t a security.&nbsp;</p> 
<p>Unlike Garlinghouse, some other market experts haven’t sounded optimistic about whether an XRP ETF could come soon. Van Buren Capital’s general partner, Scott Johnsson, <a href="https://bitcoinist.com/ripple-sec-spot-xrp-etf/">mentioned</a> that the SEC’s likelihood of approving an XRP ETF is “very slim.” He further opined that Gary Gensler will need to be replaced before the SEC can approve an XRP ETF.</p> 
<p>Ark Invest’s CEO Cathie Wood also <a href="https://bitcoinist.com/cathie-wood-bitcoin-is-king-of-security/">once predicted</a> that there would only likely be <a href="https://bitcoinist.com/evaluating-performance-bitcoin-etfs-since-launch/">Bitcoin and Ethereum Spot ETFs</a> in the US, thereby shoving aside the idea of an XRP ETF. Back then, she mentioned that it would be surprising to see “anything but Bitcoin and Ether being approved by the SEC,” possibly due to the SEC’s non-recognition of other crypto assets besides those two.</p> 
<h2 id="what-needs-to-happen-before-an-xrp-etf-can-launch">What Needs To Happen Before An XRP ETF Can Launch</h2> 
<p>In addition to the SEC’s reservations about the XRP token, Bloomberg analyst James Seyffart <a href="https://bitcoinist.com/xrp-etf-approved-in-2024/">highlighted</a> another factor that could impede the launch of an XRP ETF. He stated that the absence of XRP on a regulated market like the <a href="https://bitcoinist.com/bitcoin-futures-cme-q3-breaks-all-time-highs/">Chicago Mercantile Exchange (CME)</a> makes it more unlikely for the SEC to approve an XRP ETF.&nbsp;</p> 
<p>His comment relates to the fact that the SEC previously rejected the applications for a Spot Bitcoin ETF on the grounds that they were susceptible to market manipulation. However, in the Grayscale case, the court <a href="https://bitcoinist.com/breaking-grayscale-scores-victory-against-us-sec-spot-bitcoin-etf-imminent/">ruled</a> that the spot and futures markets were correlated. This paved the way for the <a href="https://bitcoinist.com/breaking-spot-bitcoin-etfs-approved-by-us-sec/">subsequent approval</a> of these funds since Bitcoin futures were already listed on the CME.</p> 
<p>Therefore, the potential listing of XRP futures on the CME could also pave the way for XRP ETFs since issuers can argue that the CME, being a regulated market, can help prevent <a href="https://www.newsbtc.com/bitcoin-news/sec-prove-bitcoin-is-not-manipulated/" rel="nofollow noopener" target="_blank">market manipulation</a>.&nbsp;</p> 
<p><img loading="lazy" decoding="async" class="aligncenter" src="https://www.tradingview.com/x/jOoV6Lol/" alt="XRP price chart from Tradingview.com (Ripple CEO XRP ETF)" width="3286" height="1530"></p>

XRP ETF Debate Is Heating Up As Ripple CEO Joins The Conversation

Inhoudsopgave

Bitcoinist

Andere artikelen gepubliceerd op 12 apr 2024

Strategic Partnership to Strengthen TON Ecosystem

Gen Z Prefers Crypto over Stocks, a Major Shift in Investment Trends

Solana takes next step in fixing errors, SOL set to pump?

Cat In A Dogs World Price Prediction: MEW Plunges 17% As Experts Say This Multi-Chain DOGE Deriva...

Milei Moneda eyes 10x gains; analysts bullish on BCH and SOL

APTOS Navigates Uncertainty with $300M Token Unlocks Amid Rising Market Volatility

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!