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

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Bitcoin Maxi: ‘We Don’t Need BTC ETFs,’ SEC Focus on Eliminating XRP, ADA
  • The XRP community anticipates a potential XRP ETF launch fueled by the SEC’s Bitcoin ETF approval.
  • Bloomberg analyst James Seyffart asserts that the XRP ETF is less likely to happen in 2024 due to the legal struggles.
  • Valkyrie Funds co-founder Steve McClurg recently stated that the XRP and ETH ETF launch will follow Bitcoin ETF approval.

The crypto community is looking ahead to a potential XRP ETF launch in light of the SEC’s approval of the Spot Bitcoin ETF launch. However, James Seyffart, the Senior ETF Analyst at Bloomberg, hinted at the least possibility of an XRP ETF approval in 2024 due to the ongoing regulatory hurdles.

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

I’ve been telling everyone the way I view it is that Bitcoin and Ethereum are off on a pedestal on their own for possibly getting approved this year. The only remote possibility would, I guess, be XRP, but I don’t think that’s happening this year unless the court case is completely done. Right now, they’re still challenging this in court; it’s not completely done. The SEC is literally fighting against Ripple in court.

Notably, the analyst’s words contradicted Valkyrie Funds co-founder Steve McClurg’s recent comments on the XRP ETF launch. In an interview, McClurg spotted a possible approval of XRP or Ethereum’s ETF launch following Bitcoin ETF approval. He asserted, “It wouldn’t surprise me if we saw Ripple or Ethereum spot ETFs out there.”

According to Fox Business journalist Eleanor Terrett, individuals belonging to the crypto community held contrasting opinions on the launch of the XRP ETF. While bulls strongly anticipated the launch, mainly due to XRP’s “regulatory clarity,” bears remained pessimistic about such a development.

Prominent figures like Panos remain optimistic about the XRP ETF launch, though they are not sure when it will happen. Panos shared an X thread, stating, “An XRP ETF is only a matter of time.”

While the long-awaited Bitcoin ETF approval has been realized with the SEC’s landmark move, the question of the XRP ETF launch remains unanswerable. Reflecting on the prominent figures’ differing opinions on the matter, the XRP community keenly observes developments in anticipation of a positive outcome.

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