The SEC’s legal battle with the XRP could delay the approval of ETF, warns Bloomberg analyst

As January ends, there is an excitement about the XRP of his potential ETF. Greyscale officially submitted a request for the XRP place of ETF on NYSE, which is the investors buzzing. Grayscale was a key to pushing forwards forward Bitcoin and Ethereum Spot Etfs, which makes their shift to XRP important.

This submission could put the path for more cryptocurrencies of ETF. Other companies, such as Canary Capital -Ai Bitwise, also signed up for the XRP Spot ETF. Even Io Blackkkku is even spoken, which potentially submits its own ETF application for XRP, and Grayscale also filed for ETF from Solana. Meanwhile, companies like 21shares, Bitwise and Frank Templeton are considering their own applications for various cryptocurrencies ETF, including Dogecoin and Litecoin.

SEC has already admitted to the Litecoin ETF app, and while Bitcoin and Ethereum initially launched as a futures etf before becoming a video of etf, Grayscale played a major role in the process. This growing momentum for cryptocurrencies ETF is undoubtedly for industry, especially for coins such as XRP that could eventually see the approval of ETF.

HoweverBloomberg’s analyst James Seyffart issued a warning, suggesting that although the XRP ETF can be approved in 2025, it is probably that ETF for other crypto currencies, such as Litecoin, will be prioritized. He said that the current lawsuit of the SEC is related to the XRP, which claims that Crypto currency is security, remains an obstacle to its approval of ETF.

“There’s another job to do on that front that doesn’t have to happen to something like Litecoin. Sec never called Litecoin security, so I wouldn’t be surprised if you see Litecoin coming first,” he said.