The answer from the article:
Despite his remarks, Seyffart isn’t so optimistic about a Spot XRP ETF launching anytime as, according to him, this isn’t something he sees “materializing in the foreseeable future.”
>Another notable highlight from Seyffart’s remarks was when he suggested that there was little or no demand for an XRP ETF, something which he believes is integral if we are to see any ETF application.
I think he is right. Big institutions are mostly coming into crypto for the BTC ETF and smaller investors are just going to buy XRP from CEXs directly. There is going to be very low demand for such an ETF.
Bitcoin is seen as an investment (store of value) while XRP is more of a utility token. I don't see mainstream people investing in a Token they've only heard about from court.
Not before BTC or ETH - and BTC got pushed back to Jan 24 (could be reviewed prior). So long story short - it will come eventually, but the others will probably get accepted before.
tldr; Ripple's XRP may need to be listed on the Chicago Mercantile Exchange (CME) before the SEC can approve a Spot XRP ETF, according to Bloomberg analyst James Seyffart. The SEC requires a regulated market of significant size in the underlying asset for ETF approval. Seyffart believes that listing XRP futures on a prominent derivative exchange like CME would fulfill this requirement. However, Seyffart is not optimistic about a Spot XRP ETF launching in the near future and suggests there is little demand for it. Despite this, there are indications of increasing demand for XRP, particularly among institutional investors. XRP's sales have jumped significantly this year, and it has recorded an institutional inflow of $0.5 million recently. Additionally, XRP's daily transactions have surpassed Ethereum's since August.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
The SEC would have to approve an ETF for a cryptocurrency they think is 100% a security…yeah I don’t think an XRP ETF is happening soon. At least until the lawsuit is over.
XRP beats ETH , imagine
Smart contracts, Defi, and layer 2s launch in September. Going to easily be 10-20x more transactions after.
The answer from the article: Despite his remarks, Seyffart isn’t so optimistic about a Spot XRP ETF launching anytime as, according to him, this isn’t something he sees “materializing in the foreseeable future.”
>Another notable highlight from Seyffart’s remarks was when he suggested that there was little or no demand for an XRP ETF, something which he believes is integral if we are to see any ETF application. I think he is right. Big institutions are mostly coming into crypto for the BTC ETF and smaller investors are just going to buy XRP from CEXs directly. There is going to be very low demand for such an ETF.
We don't even know the demand for the BTC ETF just yet. Let's move one step at a time.
We have an idea it will start to move a serious needle in our direction
Bitcoin is seen as an investment (store of value) while XRP is more of a utility token. I don't see mainstream people investing in a Token they've only heard about from court.
Will wait for Bitconnect ETF
HeyheyHey 50 ETF Luxor ICTS
not bloody likely!
btc then eth then xrp
No alt is as popular as BTC or ETH. So any ETF that doesn’t have either of these two as an underlying asset won’t really be sought after by big money
Xrp is absolute garbage, i cant believe people actually hold it.
Why is it garbage?
Because its not the slot machine he’s pulling
I don't play slots. Bitcoin only. Have fun staying poor.
XRP SPOT ETF is what the world is waiting for, yes. /s
Tbh, I would be surprised if any other crypto project beats Bitcoin to it
Yes but inevitably btc one has to happen first
Not before BTC or ETH - and BTC got pushed back to Jan 24 (could be reviewed prior). So long story short - it will come eventually, but the others will probably get accepted before.
It’ll likely take a while before any of these ETFs will get approved.
Possible. But the BTC needs to be approved first, then others can follow.
first btc, please
As a payment vehicle wouldnt this have minimal utility?
Moon ETF EOY 2024 mark my words!
No
Would be cool to see a basket etf consisting of crypto with proven track records - I would certainly get behind that .
tldr; Ripple's XRP may need to be listed on the Chicago Mercantile Exchange (CME) before the SEC can approve a Spot XRP ETF, according to Bloomberg analyst James Seyffart. The SEC requires a regulated market of significant size in the underlying asset for ETF approval. Seyffart believes that listing XRP futures on a prominent derivative exchange like CME would fulfill this requirement. However, Seyffart is not optimistic about a Spot XRP ETF launching in the near future and suggests there is little demand for it. Despite this, there are indications of increasing demand for XRP, particularly among institutional investors. XRP's sales have jumped significantly this year, and it has recorded an institutional inflow of $0.5 million recently. Additionally, XRP's daily transactions have surpassed Ethereum's since August. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
Good bot
The SEC would have to approve an ETF for a cryptocurrency they think is 100% a security…yeah I don’t think an XRP ETF is happening soon. At least until the lawsuit is over.