Crypto Investors Push for Spot Bitcoin ETFs in the US
Filings for spot Bitcoin exchange-traded funds (ETFs) have faced continuous resistance from the US Securities and Exchange Commission (SEC) over the years. However, there is growing interest in the possibility of an Ethereum (ETH) ETF and even an XRP ETF.
Key Points:
- Crypto investors believe that a spot Bitcoin ETF approved by the SEC would legitimize Bitcoin as an investable asset.
- This would attract institutional investors looking for a safer way to invest in BTC without the burden of storing and securing large amounts of Bitcoin.
- BlackRock, the world’s largest asset manager, has filed for a Bitcoin ETF, raising hopes for approval.
- However, asset management expert James Seyffart believes that an XRP ETF is unlikely to be approved by the SEC.
- Seyffart’s opinion is based on the lack of demand from issuers and the current regulatory environment.
Hot Take:
While a spot Bitcoin ETF approval seems more likely with BlackRock’s involvement, an XRP ETF may face greater hurdles. The SEC’s reluctance, combined with the lack of demand from issuers, suggests that an XRP ETF launch is unlikely in the current regulatory landscape.
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