Litecoin ETF Likely To Be Approved Before XRP, According to Bloomberg Strategist: Report

A Bloomberg analyst is claimed to suppose {that a} Litecoin (LTC) Trade-Traded Fund (ETF) will in all probability shield the approval of the laws previous to the same product for Ripple’s XRP.

Fortune report That on Thursday asset supervisor Grayscale submitted an software to the US Securities and Trade Fee (SEC) to transform her $ 16.1 million XRP confidence into an ETF.

Numerous different corporations additionally apply for brand new crypto ETFs, together with these for Litecoin, Solana (SOL) and Dogecoin (Doge), whereas the US enters a pro-Crypto period beneath the Trump authorities.

Final month, Ripple President Monica Lengthy mentioned that the following crypto ETF to obtain a greenlight after Bitcoin (BTC) and Ethereum (ETH) will in all probability be XRP, however Bloomberg analyst James Seyffart will not be that optimistic.

Seyffart says that the SEC nonetheless claims that XRP is a safety, a roadblock that may prohibit ETFs based mostly on the third largest crypto-active to get the seal of approval. He additionally notes that XRP-Isuer Ripple continues to be locked up in a authorized battle with the SEC.

“There may be some extra work that needs to be carried out on that entrance that doesn’t should occur with one thing like Litecoin. The SEC has by no means referred to as Litecoin a safety, so it will not shock me in case you see Litecoin within the first place. “

Though Seyffart doesn’t see the upcoming approval of XRP ETFs, he believes that throughout the empire it’s of the chance for the third largest crypto property to get one this 12 months.

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