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The US Securities and Exchange Commission (SEC) has always been reluctant to require ETFs, and Bitwise’s request to create an ETF around XRP is no exception. While demand may remain on hold for several months, investors are asking questions. But the main obstacle is not only administrative: legal problems with Ripple complicate the situation and raise concerns.
The SEC and Ripple: the battle that slows ETF ambitions
One of the main ones hurdles in XRP ETF approval, project accelerated by Bitwise, lies in legal disputes with Ripple. Since the launch of the SEC his objections to Rippleprogress XRP is in freefall from $0.66 to $0.53which is a decrease of almost 20%. So the future of XRP seems to hang on the decisions of the SEC, which is hesitant to give this ETF the green light.
According to Kaiko analysts, “ the likelihood that Grayscale will convert its trust into an XRP ETF is very low “.
A blow to XRP enthusiasts who were hoping for a quick market recovery.
The current XRP numbers speak for themselves:
- Ripple Initial Price: $0.66;
- Current price: $0.53;
- Overall decline: almost 20%.
Crypto and futures: a divided market
PUSH futures market question it is also discussed among analysts. Some believe it The lack of XRP futures is a major obstacle to ETF approvalwhile others think it is not an essential criterion.
Crypto-friendly SEC member Hester Peirce even said soa spot ETF could be viable without futures. According to her, a product similar to those created for Bitcoin or Ethereum could see the light of day. However, current market conditions remain a drag on XRP and uncertainty reigns over its future in this arena.
The crypto world is therefore eagerly awaiting a decision, but the road still seems long for Bitwise and Grayscale.
However, skeptical voices have already been heard. Some analysts believe that the ETF XRP and Cardano nr are not ready to see the light of day, despite the surrounding enthusiasm.
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The blockchain and crypto revolution is in full swing! And on the day the effects are felt by the most vulnerable economy in this world, I will say against all hope that I had something to do with it
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.
