The excitement around XRP and the possibility of an ETF is growing as January comes to an end. Grayscale has officially filed for an XRP spot ETF on the NYSE, which has investors excited. Grayscale has been successful in pushing forward Bitcoin and Ethereum spot ETFs, so their move toward XRP is significant.
This filing could open the door for more crypto ETFs. Other companies like Canary Capital and Bitwise have also applied for XRP spot ETFs. There is even talk of BlackRock potentially submitting their own ETF application for XRP, and Grayscale has filed for a Solana spot ETF. Additionally, companies like 21Shares, Bitwise, and Frank Templeton are considering their own applications for various crypto ETFs, including Dogecoin and Litecoin.
The SEC has already acknowledged Litecoin’s ETF application. While Bitcoin and Ethereum started as Futures ETFs before becoming spot ETFs, Grayscale played a major role in that process. This growing momentum for crypto ETFs is positive for the industry, especially for coins like XRP that may eventually receive ETF approval.
However, Bloomberg analyst James Seyffart has issued a warning. He suggests that while XRP ETFs may be approved in 2025, ETFs for other cryptocurrencies like Litecoin will likely be prioritized. He explains that the ongoing SEC lawsuit regarding XRP, which argues that it is a security, is a barrier to its ETF approval. Seyffart believes that there is more work to be done regarding XRP, unlike Litecoin, which the SEC has never considered a security.
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