A Bloomberg analyst predicts that a Litecoin (LTC) exchange-traded fund (ETF) will likely get the green light from regulators before an XRP ETF.
Litecoin in the Lead?
This prediction comes after Grayscale recently filed with the SEC to convert its XRP trust into an ETF. Several other firms are also vying for approval for crypto ETFs, including those focused on Solana (SOL) and Dogecoin (DOGE). While Ripple’s president previously suggested XRP would be next after Bitcoin and Ethereum, Bloomberg analyst James Seyffart isn’t so sure.
The XRP Hurdle
Seyffart points out the SEC’s ongoing classification of XRP as a security. This poses a significant hurdle for any XRP-based ETF. The ongoing legal battle between Ripple and the SEC further complicates matters. He argues that Litecoin faces no such classification issue, making its ETF approval more likely.
XRP Still in the Running
While Seyffart doesn’t expect immediate approval for XRP ETFs, he believes it’s still possible for one to be approved this year.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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