SEC’s Legal Battle with XRP Could Delay ETF Approval, Bloomberg Analyst Warns
At the end of January, the excitement of XRP and its potential ETF is being established. GrayScale has officially applied for the XRP on -site ETF of the New York Stock Exchange, which has caused investors to buzz. GrayScale has always been a key participant to promote Bitcoin and Ethereum spots ETF, which makes them important to the development of XRP.
This file may pave the way for more encryption ETFs. Other companies (such as Jinsha Capital and Location) also applied for XRP Spot ETFs. Some people even talked about Berlaide that may submit their XRP ETF applications, and GrayScale also submitted Solana Spot ETF. At the same time, companies like 21Shares, Bitwise and Frank Templeton are considering the application of various encrypted ETFs including DogCoin and Litecoin.
SEC has acknowledged Litecoin ETF applications. Although Bitcoin and Ethereum were initially launched in the form of futures ETFs, GrayScale played an important role in the process before becoming a spot ETF. The increasing momentum of encrypted ETFs is undeniable for the industry, especially for coins such as XRP and other coins, which may eventually get coins approved by ETF.
HoweverBloomberg Analyst James Seyffart issued a warning, It shows that although XRP ETF may be approved in 2025, it may give priority to other cryptocurrencies (such as Litecoin). He said that the SEC lawsuit of XRP is ongoing that cryptocurrencies are security, and it is still an obstacle to its ETF approval.
“In that aspect, there are more jobs that need to happen in things like Litecoin. SEC has never called Litecoin security. Therefore, if you see Litecoin first appear, I will not be surprised.” He said he said Essence
