Filings for spot Bitcoin exchange-traded funds have been pushed around for years with no success in the US so far. The Securities and Exchange Commission remains reluctant.
Ideas for ETH ETFs have also been floating around but XRP? That’s something new, but apparently, there’s some sort of interest in it.
- The primary reason why cryptocurrency investors have been pushing for a spot Bitcoin ETF approved by the US SEC is that it will thoroughly legitimate Bitcoin as an investable asset.
- This would, in turn, open the door for many institutions that are looking for a safe way to invest in BTC without having to necessarily worry about its safekeeping.
- Let’s face it – storing large amounts of BTC isn’t for anyone, and it can be particularly risky.
- With BlackRock now filing for a Bitcoin ETF, chances for approval, according to many – have improved. This is mainly because of the fact that it’s the largest asset manager in the world, and it has a tremendously successful track record in getting its ETF applications approved. Shocker.
- But now, an asset management expert – James Seyffart – weighed in on the possibility of an XRP ETF getting approved.
- His comments came in response to the recent listing of XRP on Gemini.
Gemini following Coinbase and Listing XRP. Been asked a few times in last weeks about an XRP ETF. Don’t think there’s enough to launch an XRP ETF with this SEC. And there seems to be essentially zero demand from issuers to try.
Gemini following @coinbase and listing #XRP. Been asked a few times in last few weeks about an XRP ETF. Don’t think there’s enough to launch an XRP ETF with this SEC. And there seems to be essentially zero demand from issuers to try https://t.co/t3PQeqbKvI
— James Seyffart (@JSeyff) August 10, 2023