A Bloomberg analyst is said to think that a Litecoin (LTC) Exchange-Traded Fund (ETF) will probably protect the approval of the regulations prior to a similar product for Ripple’s XRP.
Fortune report That on Thursday asset manager Grayscale submitted an application to the US Securities and Exchange Commission (SEC) to convert her $ 16.1 million XRP confidence into an ETF.
A number of other companies also apply for new crypto ETFs, including those for Litecoin, Solana (SOL) and Dogecoin (Doge), while the US enters a pro-Crypto era under the Trump government.
Last month, Ripple President Monica Long said that the next crypto ETF to receive a greenlight after Bitcoin (BTC) and Ethereum (ETH) will probably be XRP, but Bloomberg analyst James Seyffart is not that optimistic.
Seyffart says that the SEC still claims that XRP is a security, a roadblock that can prohibit ETFs on the basis of the third largest crypto-active to get the seal of approval. He also notes that XRP-Isuer Ripple is still locked up in a legal battle with the SEC.
“There is some more work that has to be done on that front that does not have to happen with something like Litecoin. The SEC has never called Litecoin a security, so it would not surprise me if you see Litecoin in the first place. “
Although Seyffart does not see the upcoming approval of XRP ETFs, he believes that within the empire it is of the possibility for the third largest crypto assets to get one this year.
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