The Securities and Exchange Commission’s (SEC) recent approval of spot Bitcoin Exchange Traded Funds (ETFs) has opened up the possibility of acceptance for other types of crypto funds. Asset managers who have been granted permission to launch Bitcoin ETFs are already proposing spot Ether funds. However, the next potential frontier for crypto ETFs could be XRP.

In a recent interview, Valkyrie CIO Steve McClurg hinted that asset managers are keen to expand into other cryptocurrencies following the approval of Bitcoin ETFs. He stated, “I think we’re going to see a lot of filings come out for Ethereum. I even think we might see something for Ripple, given the recent progress.”

Bloomberg analyst James Seyffart also sees XRP as the next likely ETF candidate after Bitcoin and Ether. However, he recognizes that Ripple’s ongoing legal issues may delay progress. Seyffart suggests that the SEC is unlikely to approve XRP funds while it is embroiled in a court battle with Ripple. He said, “I don’t think that’s happening this year unless the court case is completely done.”

Furthermore, Seyffart notes that while spot Bitcoin and Ether ETFs were preceded by funds investing in crypto futures, there is no such precedent for XRP. He points out that the existence of Bitcoin and Ether futures ETFs bolsters the case for allowing funds to hold the cryptocurrencies directly, but adds, “we don’t have any of that for Ripple.”

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	1
People	James Seyffart, Steve McClurg
Companies	VanEck, Securities and Exchange Commission, Ripple, Valkyrie, Bloomberg
Currencies	XRP, Bitcoin, Lido Staked Ether
Securities	None