- Fox Journalist Eleanor Terrett shares insights on the crypto community’s diverse views on a potential XRP ETF launch.
- The bulls’s positive beliefs on the XRP ETF launch are mainly driven by the token’s regulatory clarity.
- The bears assert that altcoins cannot realize its ETF launch unless Congress intervenes in crypto regulations
Crypto enthusiasts and the XRP community have been actively watching market developments in anticipation of a potential XRP ETF launch. Fox Business journalist Eleanor Terrett shared insights on the crypto community’s differing views on the possibility of the SEC’s XRP ETF approval.
In a recent interview, Valkyrie Funds’ co-founder, Steve McClurg, signaled a possible approval of XRP or Ethereum ETFs after the launch of Spot Bitcoin ETFs. He cited, “It wouldn’t surprise me if we saw Ripple or Ethereum spot ETFs out there.”
Shedding light on the contrasting views of the “bulls” and “bears” on a future XRP ETF, Eleanor provided more clarity to the matter. Starting with the comments of the bulls, she pointed out their positive outlook on the XRP ETF launch, mainly driven by the token’s regulatory status. The bulls argued that XRP is the “only digital asset that has received any kind of ‘regulatory clarity.’”
The community’s bullish beliefs on XRP and its ETF launch are significantly influenced by Ripple’s landmark victory against XRP. In a previous court filing, Judge Analisa Torres ruled against the Securities and Exchange Commission (SEC), clarifying XRP as a non-security.
In addition, the bulls are confident about the XRP ETF launch in light of major exchanges relisting XRP. Most recently, Grayscale Investments reintroduced XRP to its Digital Large Cap Fund, signaling a positive sign that the asset will be included in future funds.
Contrastingly, the bears believe that an XRP ETF launch is “hard” considering the SEC Chair Gary Gensler’s “contempt for mostly all digital assets aside from Bitcoin.” They added that without the intervention of Congress in crypto regulation, single-product ETFs like XRP or Ethereum could not be realized. Some others commented that the SEC’s approval of Bitcoin would “solidify” the regulator’s distinction between Bitcoin and other cryptocurrencies.
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