Bitcoin Spot ETF: Ethereum and XRP could follow!

The SEC’s impending approval of the first Bitcoin spot ETF in the United States could usher in a new era for cryptos. ETFs on Ethereum and Ripple could quickly follow, according to Steve McClurg, chief investment officer at Valkyrie Funds.

After the Bitcoin ETF, room for Ripple and Ethereum?

Confident about what’s next, Steve McClurg, chief investment officer at Valkyrie Funds, said in a recent interview with Bloomberg that he “wouldn’t be surprised to see Ripple or Ethereum spot ETFs come to market” after the approval of the first Bitcoin Spot ETF.

This optimism is based on the imminent decision of the Securities and Exchange Commission (SEC) to authorize the first exchange-traded funds (ETFs) directly replicating the price of Bitcoin, expected this week. The Valkyrie ETF is one of the affected products.

Many observers see this as a major positive signal for the entire crypto sector. This regulatory advance would pave the way for mainstream investors to adopt financial vehicles directly backed by cryptocurrencies.

Building on this precedent, Mr. McClurg anticipates that ETFs on other important digital assets, such as Ether or XRP, will quickly receive regulatory approval, capitalizing on the growing interest of investors in the class of assets.

Growing interest from investors

Mr. McClurg emphasizes that investor interest in diversifying their crypto investments remains increasingly strong. In particular, he cites Grayscale’s recent decision to add Ripple to one of its publicly traded trusts.

Such consumer-focused financial vehicles make cryptos easier to access for novice investors, he believes, paving the way for mass adoption.

Although confident, Mr. McClurg admits that the regulatory approval process remains unpredictable. Nothing is yet completely certain regarding the launch of the Bitcoin ETF.

Anything can still happen” , does he have declared, recognizing that the regulatory environment remains complex. Administrative or political obstacles could further push back the deadline or complicate the efforts of other players wishing to offer new crypto index funds.

However, the possible validation this week of a first Bitcoin Spot ETF nevertheless seems to mark a turning point. If confirmed, this regulatory advance could unlock the arrival of a new generation of crypto investment products, finally making these assets accessible to the general public.

Maximize your experience with our ‘Read to Earn’ program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.

Similar Posts