Speculation about a Spot XRP ETF
The recent approval of Bitcoin ETFs in the US has sparked speculation among the XRP community about the possibility of a spot XRP ETF. However, analysts believe that the ongoing lawsuit between Ripple and the SEC poses a significant obstacle to the launch of such a product.
Townsend Lansing, head of product at CoinShares, stated that an XRP ETF would only be possible if the SEC grants the coin a non-security status. This legal battle between Ripple and the SEC has been going on for years, with Ripple securing some partial court wins.
Recently, Gemini’s tweets about XRP led to speculation, but it was later revealed that they were introducing XRP perpetual contracts instead of filing for a spot XRP ETF.
Potential Launch After 2024
Bloomberg Intelligence research analyst James Seyffart believes that a spot XRP ETF is unlikely to launch in 2024. He points to the uncertainty caused by the Ripple/SEC case and the absence of futures XRP ETF as key factors. Seyffart suggests that a spot XRP ETF might become a reality in 2025 if there is more regulatory clarity.
Hot Take: The Road Ahead for an XRP ETF
While there is speculation and hope for a spot XRP ETF following the approval of Bitcoin ETFs in the US, it seems unlikely to happen anytime soon due to the ongoing legal battle between Ripple and the SEC. The outcome of this case and regulatory clarity will play crucial roles in determining whether a spot XRP ETF can be launched in the future. For now, investors and supporters will have to wait patiently and keep an eye on any developments in this space.
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