Bloomberg Analyst Sets Timeline for XRP ETF Approval
Main Idea
Bloomberg analyst Eric Balchunas predicts an XRP ETF and other altcoin ETFs could gain SEC approval by September, following updated regulatory standards that favor established cryptocurrencies.
Key Points
1. The SEC introduced new 'Listing Standards' for digital asset ETPs, easing the path for ETFs tied to cryptocurrencies like XRP, Solana, and Dogecoin.
2. Balchunas estimates an 85% chance of XRP ETF approval, with prediction markets showing similar optimism at around 86%.
3. The SEC's allowance of in-kind creation and redemption for crypto ETPs simplifies operations and reduces costs, further supporting ETF approval prospects.
4. Several XRP ETF proposals, including from Bitwise and Franklin Templeton, are under SEC review, with recent regulatory momentum potentially accelerating the process.
5. October is viewed as a likely timeframe for XRP ETF approval, which could significantly impact the altcoin market by increasing accessibility and institutional investment.
Description
A breakthrough could soon reshape the crypto investment landscape, as Bloomberg ETF expert Eric Balchunas predicts that an XRP exchange-traded fund (ETF), along with other altcoin ETFs, is likely to win approval by September or October. This bold projection follows a key regulatory update from the U.S. Securities and Exchange Commission (SEC), which has introduced new listing standards designed to guide the approval process for crypto-based exchange-traded products (ETPs). SEC Introduces New Sta...
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