- Bloomberg analyst James Seyffart says Litecoin ETF will get approval before Grayscale’s XRP ETF.
- Litecoin never faced any allegations of being a security, unlike XRP.
Filings for Crypto funds are increasing by the day as the new administration takes charge in the US. Bitcoin was the first crypto to have its exchange-traded funds on conventional market places in 2024. However, we are witnessing other cryptos such as XRP, Solana, and Litecoin ETF filings this year.
Grayscale and Canary Capital ETF filings are the talks of the town at present in the industry. While Grayscale plans to convert its $16.1 million XRP Trust into XRP Spot ETF, Canary Capital filed for Litecoin ETF.
As per the recent post by Litecoin on X, 3 Litecoin ETFs are filed in the US by Canary Capital, CoinShares, and Grayscale. When the US SEC advanced the Litecoin ETF by opening a public comment period, the market was optimistic that it would soon get approval.
Bloomberg Analyst Predicts Litecoin ETF to Move Past XRP ETF
The spree of crypto ETF filings sparked discussions among industry leaders and top market analysts. While global asset management firms are moving forward with their filings, market analysts are estimating which ETFs are going to be approved first.
Popular Bloomberg ETF analyst James Seyaffart believes in the possibility of XRP fund getting approval in 2025. However, he says ETFs for other cryptocurrencies will likely come first. Referring to the XRP, Seyffart further says,
“There’s some more work that needs to be done on that front that doesn’t need to happen with something like Litecoin. The SEC has never called Litecoin a security so, I wouldn’t be surprised if you see Litecoin come first.”
On the other hand, Ripple president Monica Long stated that she thinks XRP exchange-traded fund is next in line and will be approved very soon.
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Source: https://thenewscrypto.com/will-litecoin-etf-get-the-green-light-before-grayscales-xrp-etf/