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When it comes to cryptocurrencies, most investors’ eyes are perhaps searching for XRP. XRP, one of the biggest players in the market, continues to be surrounded by rumors. The latest news pointed to potential spot XRP ETFs. But how realistic is this?
XRP Spot ETF Receives Positive Market Reaction
According to Valkyrie CIO Steven McClurg, the possibility of an XRP spot ETF passing SEC approval seems more likely than an Ethereum ETF.
In the world of cryptocurrencies, all eyes seem to be on whether an Ethereum ETF will receive approval from the regulatory body, the SEC.
Valkyrie’s Steven McClurg also made a statement parallel to the recent SEC campaign, indicating that Ethereum could be considered a security. In addition, he mentioned that the spot ETF might not get approved in May.
While discussions about XRP and Ethereum ETFs continue at full speed, Ripple CEO Brad Garlinghouse recently made a statement on the matter.
Ripple CEO Brad Garlinghouse provided significant information about the potential approval of an XRP exchange-traded fund (ETF). Interestingly, these statements brought along rumors within the cryptocurrency space, especially among the XRP community, following the successful market entry of US Spot Bitcoin ETFs.
To put it another way, the development of the cryptocurrency market has been a significant catalyst for the possibility of an XRP ETF, both for investors and those curious about the topic. Generally, people in the market express positive opinions that an XRP ETF would not face SEC obstacles when approval-related issues are discussed.
What’s the Latest on the Ethereum ETF?
Investors with expectations for an XRP ETF seem to have turned their attention to the ETH ETF approval. The US Securities and Exchange Commission (SEC) appears to be continuing its efforts to not approve a spot Ethereum ETF while still demanding that Ethereum be recognized as a “security.”
Grayscale’s chief legal officer Craig Slam had previously commented on the matter, stating that the company had strong expectations for the approval of its spot Ethereum ETF.
Salm emphasized that Grayscale and other issuers had positive interactions with the SEC before the approval of Bitcoin ETFs. He mentioned that various topics, including meetings with authorized participants (APs) and liquidity providers (LPs), as well as creation and redemption processes, were examined during this time.
