While Bitcoin exchange-traded fund (ETF) applications are still awaiting approval from the US Securities and Exchange Commission (SEC), executives from asset management firms are already speculating about the potential launch of spot ETFs for other major cryptocurrencies, including XRP and Ethereum (ETH).
Valkyrie Invest’s Chief Investment Officer, Steven McClurg, expressed his belief that the SEC’s potential approval of a Bitcoin ETF could pave the way for similar offerings in the XRP and Ethereum markets.
However, regulatory challenges and classifying XRP and Ethereum as securities may present hurdles toward these index funds.
XRP And Ethereum Spot ETF Potential Hurdles
Unlike Bitcoin, which has been classified as a commodity by regulators, XRP and Ethereum have been deemed securities. This divergence in classification poses potential difficulties and may necessitate a more complex approval process for spot ETFs tracking these cryptocurrencies.
The anticipated impact of sp
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