A recent statement by Valkyrie CEO Steven McClurg regarding the future of Spot ETFs, particularly the Ripple (XRP) Spot ETF, has sparked lively discussions among investors and analysts.
Techcrunch journalist Jacquelyn Melinek, known for her predictions and commentary on the sector, brought this information to light, highlighting a significant change in the cryptocurrency landscape.
Melinek, who previously faced criticism for his claims regarding the approval of the Bitcoin Spot ETF, is now pointing to a new direction in the market. According to her, after the success of the Bitcoin Spot ETF, attention turns to the next big bets: Ethereum and Ripple (XRP). In a revealing conversation with McClurg, the possibility emerged that the Ripple (XRP) Spot ETF could receive approval even before Ethereum.
This possibility is intriguing given the SEC’s stance on Ripple’s XRP, which is classified as a security. The SEC has steadfastly maintained this classification, although it has faced recent defeats in related litigation. On the other hand, the Ethereum situation is less clear, with SEC Chairman Gary Gensler not defining a firm position. Currently, Ethereum futures ETFs are trading in the US, but there is no equivalent product for XRP yet.
This news comes at a crucial time for the cryptocurrency market, which continues to evolve and surprise newbies and experienced investors alike. The potential for a Ripple (XRP) Spot ETF represents not only a breakthrough for Ripple, but also an important milestone for the entire cryptocurrency sector. The approval of such an ETF could mean greater recognition and legitimization of cryptocurrencies as a viable and important asset class.
At the time of publication, the price of XRP was listed at US$0.5726, down 1% in the last 24 hours.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.