Bloomberg Analyst Reveals Why An XRP ETF Will Not Be Approved In 2024
Summary
Bloomberg analyst James Seyffart doesn't foresee an XRP ETF launching this year due to the SEC's case against Ripple. He believes XRP futures trading on the CME must precede any Spot XRP ETF applications. Following the approval of Spot Bitcoin ETFs, attention is now on Ethereum Spot ETF applications, with Seyffart expecting their approval this year due to Ethereum's similarities with Bitcoin and the existence of Ethereum futures trading on the CME. The SEC could delay approval until the final deadline, potentially on May 23rd, affecting the market's anticipation of this event. ETH's price rose in anticipation of the Spot Bitcoin ETF approval.
