Bloomberg Analyst: “XRP ETF Is Coming, But This Altcoin’s ETF Will Be Approved Sooner”

The crypto world is buzzing about a potential wave of new ETFs, and it looks like we might be seeing some unexpected players get to the finish line first. While Grayscale Investments just filed to turn their XRP Trust into an ETF, a Bloomberg analyst is suggesting another cryptocurrency might actually beat it to the punch: Litecoin.

Litecoin Could Lead the ETF Race

You’d think XRP, with its recent surge in popularity and Grayscale’s move, would be a shoo-in for an ETF approval. After all, this would let investors dabble in XRP without having to actually buy and manage the digital coins themselves—a big draw for those who find crypto a bit intimidating. The source indicated that the proposed XRP ETF would even list on the New York Stock Exchange! However, Bloomberg analyst James Seyffart believes Litecoin could get the green light before XRP. The source explained that the SEC has never labeled Litecoin a security, unlike XRP, which is currently facing legal battles on that very issue. Seyffart stated that because of this, Litecoin faces fewer regulatory hurdles, making it a potentially faster approval process.

Trump’s Influence and the ETF Frenzy

This flurry of ETF applications comes at a time when the crypto industry is anticipating friendlier regulations, especially with Donald Trump’s return to office. The source revealed that other crypto ETFs for Solana, Dogecoin, and Litecoin are also in the works. The appointment of Paul Atkins as Trump’s pick to chair the SEC is also seen as a positive sign. Atkins is known to be more sympathetic towards digital assets, and it’s anticipated he might take a less aggressive approach to enforcing securities laws than his predecessor. This could mean a smoother path for many of these ETF applications, including the controversial XRP one. While Atkins’s appointment is promising, the source explained that ongoing SEC lawsuits alleging that XRP is a security still pose significant obstacles and could delay its ETF approval.

While an XRP ETF is on the horizon, legal battles may slow it down. Litecoin, not labeled as a security by the SEC, might be approved first due to fewer regulatory hurdles.

Source: Crypto | Bitcoinethereumnews.com

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