XRP Spot ETF To Be Approved Before Ethereum ETF, Valkyrie CIO Predicts

The chances of an XRP spot ETF going through the SEC’s cards are more likely than an Ethereum ETF, according to Valkyrie CIO. At present the crypto market is creating highly speculative waves around whether or not an Ethereum ETF will get a green signal from regulators. Steven McClurg also weighed down that Ethereum could be a security, however, the spot ETF might not get approved in May.

🚨NEW: Some key takeaways from my fireside chat at @DWildcatters Empower Conference with @ValkyrieFunds CIO @stevenmcclurg:

📌He believes $ETH could be a security and the spot ETF will not get approved in May.

📌He thinks it’s more likely a $LTC or $XRP spot ETF gets approved… pic.twitter.com/6VjaBEXubL

— Eleanor Terrett (@EleanorTerrett) March 27, 2024

XRP Spot ETF Gets Positive Market Reaction

In the middle of the XRP vs Ethereum ETF debate, Ripple CEO recently provided insights on his opinion about the same. As CoinGape previously reported, important information about the possible introduction of an XRP exchange-traded fund (ETF) was provided by Ripple CEO Brad Garlinghouse. Interestingly, this spurred conjecture in the cryptocurrency space, particularly within the XRP community, following the U.S. Spot Bitcoin ETFs’ prosperous debut. Put another way, as the cryptocurrency market develops, there has been a great deal of discussion and interest in the possibility of an XRP ETF from both investors and enthusiasts. Overall, market participants are placing positive bets that an XRP ETF will not face hurdles from the SEC when it comes to the approval debate.

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Is Ethereum ETF Out of Questions?

With the chances of an XRP ETF, investors are now wondering about ETH ETF approval. The U.S. Securities and Exchange Commission (SEC) has been under fire recently for attempting to minimize the approval of the spot Ethereum ETF while still categorizing Ethereum as a “security.” Craig Slam, the chief legal officer at Grayscale, had previously clarified the situation and said that the company had a strong case for the approval of a spot Ethereum ETF.

Salm emphasized the positive interactions Grayscale and other parties had with the SEC in the months preceding the Bitcoin ETFs’ approval. Throughout this time, in-depth conversations addressed several topics, including custody, authorized participants (APs), and liquidity providers (LPs), as well as creation and redemption processes. This could give a positive indication that maybe the SEC might consider parameters that could result in the green signal for Ethereum ETF. However, what happens in the future still lies in the doldrums.

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