A Bloomberg analyst reportedly thinks {that a} Litecoin (LTC) exchange-traded fund (ETF) will doubtless safe regulatory approval forward of an identical product for Ripple’s XRP.
Fortune experiences that on Thursday, asset supervisor Grayscale submitted a submitting with the U.S. Securities and Trade Fee (SEC) to transform its $16.1 million XRP belief into an ETF.
A lot of different corporations are additionally making use of for brand spanking new crypto ETFs, together with these for Litecoin, Solana (SOL) and Dogecoin (DOGE), because the US enters a pro-crypto period underneath the Trump administration.
Final month, Ripple president Monica Lengthy mentioned that the subsequent crypto ETF to obtain a greenlight after Bitcoin (BTC) and Ethereum (ETH) will doubtless be XRP, however Bloomberg analyst James Seyffart isn’t as optimistic.
Seyffart says the SEC continues to be claiming that XRP is a safety, a roadblock which may bar ETFs based mostly on the third-largest crypto asset from getting the seal of approval. He additionally notes that XRP-issuer Ripple continues to be locked in a authorized tussle with the SEC.
“There’s some extra work that must be completed on that entrance that doesn’t have to occur with one thing like Litecoin. The SEC has by no means referred to as Litecoin a safety so, I wouldn’t be shocked should you see Litecoin come first.”
Whereas Seyffart doesn’t see the upcoming approval of XRP ETFs, he believes that it’s throughout the realm of risk for the third-largest crypto asset to get one this yr.
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