Bloomberg Analyst and Exchange Traded Fund Expert James Seyffart predicted XRP ETFs would be launched in 2025 following moves made by major asset managers.
Seyffart’s prediction follows Grayscale’s recent filing for XRP Exchange Traded Funds. Grayscale joins the growing list of asset managers exploring ETF products for other crypto assets outside Bitcoin and Ethereum.
Grayscale applied with the Securities and Exchange Commission to convert its XRP Trust into an ETF that can be traded on the New York Stock Exchange.
The XRP trusts hold over $16.1 million invested by Grayscale clients looking to invest in XRP without directly owning the asset. Grayscale is looking to convert this into an ETF like they did with their Bitcoin Trust.
“As an innovative and future-forward asset manager, Grayscale is committed to continuously identifying opportunities to offer products that meet client demand and expand investor access to digital assets and the broader DeFi ecosystem,” Dave LaValle, Global Head of ETFs at Grayscale, said in a statement.
Grayscale’s XRP filling follows other similar moves by asset managers looking to launch various ETF Products and compete with the Bitcoin and Ethereum ETFs for institutional and retail investors.
XRP ETF imminent, but Litecoin First
Bloomberg Analyst James Seyffart cautioned against excessive optimism for XRP ETFs from its community. He believes the ETF product could be launched in 2025, but the Litecoin ETF Product is more likely to happen before XRP.
Seyffart explained that the ongoing legal dispute between Ripple and the SEC on the asset class of XRP could delay the ETF launch of the project.
The Litecoin project doesn’t have similar challenges, and it’s bound to experience a more hitch-free approval process.
The pace of XRP’s approval hinges on the actions of the new leadership of the SEC under Paul Atkins.
Paul Atkins is believed to be a lot more crypto-friendly than Gary Gensler, His decision on the Ripple Labs legal issue could swing in the favour of XRP leading to the launch of its ETF product.
An Exchange-Traded Fund (ETF) is a type of investment fund that trades on stock exchanges, similar to individual stocks. ETFs pool money from multiple investors to buy a diversified portfolio of assets, such as stocks, bonds, commodities, or cryptocurrencies.
Bitcoin ETF and Ethereum ETF were launched in January and July of 2024 respectively. There is yet to be another launch since then.
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