According to CryptoPotato, speculation about a spot XRP ETF has risen following the approval of Bitcoin ETFs in the US, but the ongoing Ripple/SEC lawsuit poses a significant obstacle. One expert suggests that the launch of the product might be more likely after 2024, pending clearer regulatory guidance.
The historic approval of several spot Bitcoin ETFs in the United States has given the XRP army, a term referring to the enthusiastic community of XRP investors and supporters, the opportunity to speculate that a similar product with Ripple’s coin as an underlying asset might be introduced. However, some analysts reportedly rejected that option, citing the ongoing lawsuit between Ripple and the US SEC as an obstacle. According to Townsend Lansing, CoinShares’ head of product, an XRP ETF won’t be possible unless the regulator grants the coin a non-security status.
James Seyffart, a research analyst at Bloomberg Intelligence, is also among the experts who think that such a product would not see the light of day in 2024. He outlined the uncertainty caused by the Ripple/SEC case and the lack of futures XRP ETF as the main reasons. On the other hand, Seyffart believes that a spot XRP ETF might go live in 2025, assuming there is more regulatory clarity.
