Following the SEC's spot Bitcoin ETF approval, all eyes are now on Ethereum spot ETFs.
However, while there are rumors in the market that XRP ETFs may come in addition to ETH, Bloomberg ETF analyst James Seyffart made an evaluation about XRP ETFs.
Speaking to the YouTube channel Thinking Crypto, James Seyffart said that launching a spot XRP ETF in the US before the end of 2024 is extremely unlikely, given several important factors.
He cited the ongoing lawsuit between Ripple and the SEC as the first reason for this thought and said, “This case still continues to trigger uncertainty about the status of XRP. And I don't think we can talk about a spot XRP ETF unless the case is concluded.”
“Aside from the lawsuit, another reason is that XRP's situation is different from BTC and ETH.
Because there are already forward Bitcoin and Ethereum ETFs in America, which paves the way for spot ETFs to be approved. However, this is not the case for XRP.
We already have futures contracts issued on the CME, and we also have futures ETFs. We don't have any of that for Ripple.
That's why I don't think there will be a spot ETF for XRP in 2024, I don't even think it's possible.”
The Bloomberg analyst said that he thinks that only if the XRP case is fully concluded and the regulatory environment for cryptocurrencies in the USA improves, there may be a spot XRP ETF in the USA, and the potential approval of the XRP ETF will be talked about in 2025.
*This is not investment advice.
