The US Securities and Exchange Commission (SEC) has recently approved the first Bitcoin ETFs, but the approval of Ethereum and XRP ETFs is still uncertain. In this article, we will explore the possibility of Ethereum and XRP ETFs being approved, and if so, when it might happen. We will also look at what experts think about this issue.
Ethereum ETFs
The SEC has been resistant to approving an Ethereum ETF, despite the Commodity Futures Trading Commission’s (CFTC) classification of Ethereum as a commodity. Also, the SEC has been hesitant to approve an Ethereum ETF due to concerns over market manipulation and investor protection. However, there is still optimism among some experts that an Ethereum ETF could be approved in the future and could come to market post the likely approval of Bitcoin Spot ETFs. Valkyrie Funds CIO Steven McClurg, who says that it wouldn’t surprise him if he saw Ethereum spot ETFs coming to market now. Also, BlackRock CEO Larry Fink said in a speech last week that the company sees value in establishing an Ethereum ETF.
XRP ETFs
XRP currently lacks an approved futures ETF in the United States, unlike Bitcoin and Ethereum. Analysts do not recommend holding out for an approved XRP ETF anytime soon, despite recent speculation. But, there is still thoughts among some experts that there is a hope for XRP ETFs in the future. It is important to know that XRP is the only digital asset with regulatory clarity from US courts, and the altcoin’s relisting by major exchanges is a key step.
Conclusion
If the SEC managed to resist this much even for the Bitcoin spot ETF, it may be wishful thinking to expect spot ETFs for Ethereum and XRP at least in the present or near future. However, although Ethereum is more likely, it seems quite likely to see spot ETFs of these two cryptocurrencies in the future. Remember that everything is possible in the cryptocurrency market, and it would be best to follow the news instantly in this process.
