The approval of spot crypto exchange-traded funds (ETFs) in the US is expected to be influenced by the upcoming presidential election. The recent appeal by the Securities and Exchange Commission (SEC) in the case against Ripple Labs could also pose a challenge to the approval of such funds. Investment firm Bitwise has filed for an ETF that would hold Ripple (XRP) directly, and Canary Capital appears to have filed for a similar product. However, the approval of these ETFs may depend on the outcome of the election and whether SEC Chair Gary Gensler remains in his position. The SEC's appeal in the Ripple case could also delay clarity on XRP's status and impact planned ETFs holding the asset. Nonetheless, the filing for the XRP ETF suggests a changing regulatory landscape for cryptocurrencies in the US.
- Content Editor ( blockworks.co )
- 2024-10-03
Election outcome and SEC appeal to decide XRP ETF future