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HomeCrypto NewsMarketInfluencer Highlights Likelihood of XRP ETF Amid Seven ETH ETF Applications

Influencer Highlights Likelihood of XRP ETF Amid Seven ETH ETF Applications


Talks about a potential XRP exchange-traded fund (ETF) have emerged following its non-security status as more firms seek Ethereum (ETH) ETFs.

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Former CFTC lawyer Mike Selig has taken to Twitter to express his views on the recent surge in applications for Ethereum (ETH) exchange-traded funds (ETFs) with the US Securities and Exchange Commission (SEC).

Selig argued that if a Bitcoin (BTC) ETF were on the horizon, it was already likely that an ETH ETF would not be far behind. The lawyer reasoned with factors such as the Hinman speech, the SEC FinHub framework, and recent court developments. 

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Specifically, he highlighted that court rulings on Ripple and Terraform strengthen the case that Ethereum is not a security, even if it was initially sold as one.

The Likelihood of XRP ETF 

In response, Digital Asset Investor, a well-known influencer in the XRP community, pointed out the potential for an XRP ETF.

The influencer asserted that XRP enjoys a unique advantage over other digital assets due to its legal clarity in the United States. He expressed that XRP’s non-security status presents a strong case for an XRP ETF in the future.

“The case is even stronger for an XRP ETF since it’s the ONLY digital asset with LEGAL clarity in the United States,” the influencer proclaimed.

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Ethereum ETF Filing with SEC

In a tweet that sparked excitement among crypto enthusiasts, James Seyffart, renowned for updates around EFTs, highlighted the sheer number of recently-filed applications with the SEC.

Seyffart’s tweet revealed that six distinct issuers had submitted up to seven Ethereum Futures ETF filings to the US SEC. The accompanying image indicates that six filings were submitted on August 1 alone.

The rush for Ethereum ETF approvals reflects the increasing interest in cryptocurrencies as mainstream investment options. The development follows prominent financial institutions such as BlackRock and Fidelity filing for Bitcoin ETF, as The Crypto Basic reported in June.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Abdulkarim Abdulwahab
Abdulkarim Abdulwahabhttp://thecryptobasic.com
Abdulkarim Abdulwahab is a blockchain writer with a specific interest in journalistic writing. He covers breaking events in the crypto community and blockchain industry. Over the past year, he has published over 1,500 short-form and long-form content for Web3 publishing firms.

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