Speculation about an XRP-spot ETF surfaced after Grayscale included XRP in its Digital Large Cap Fund (GDLF). Expectations of an XRP-spot ETF linger despite recent comments from SEC Chair Gary Gensler. The SEC Chair warned against speculation about the approval of crypto-spot ETFs, saying,
“Importantly, today’s Commission action is cabined to ETPs holding one non-security commodity, bitcoin. It should in no way signal the Commission’s willingness to approve listing standards for crypto asset securities.”
XRP has an advantage over its peers. The Programmatic Sales of XRP ruling would allow for an XRP-spot ETF. However, the SEC may decline applications for XRP-spot ETFs on SEC plans to appeal the court ruling.
Nonetheless, Coinbase (COIN) could scupper SEC plans to appeal the Programmatic Sales ruling.
SEC v Coinbase: Wednesday Court Hearing Pivotal for US Crypto Market
On Wednesday, January 17, Judge Katherine Failla will…
