The post Probability of XRP ETF Launching Before ETH ETF: Market Insights and Price Analysis appeared first on Coinpedia Fintech News
With the current speculation surrounding the potential launch of Ethereum ETFs, recent market insights by pro-market experts suggest that an XRP ETF might be launched before its Ethereum counterpart.
Let’s delve into and analyze the evolving market dynamics behind the probability of an XRP ETF launch building up before an ETH ETF.
Market Sentiments and Regulatory Outlook
Amidst escalating discussions within the crypto community, Fox Business reporter Eleanor Terret has shared her insights from a fireside chat with Valkyrie Funds’ CIO.
The chat sums up in two main points – “He believes $ETH could be a security and the spot ETF will not get approved in May. He thinks it’s more likely a $LTC or $XRP spot ETF gets approved…”
Steven McClurg, CIO of Valkyrie Funds, emphasizes the likelihood of the SEC treating Ethereum as a security. Moreover, the investigation probe surrounding Ethereum is also complicating the prospects of a spot ETH ETF approval.
McClurg’s insights underscore the growing speculation surrounding the regulatory fate of crypto ETFs, with XRP and Litecoin ETFs emerging as frontrunners in the approval race.
Price Action Analysis: XRP and Ethereum
While the regulatory clarity remains uncertain for both XRP and ETH, one nearing the end of its lawsuit, and one probably in the investigation stages before a lawsuit, the price action of both XRP and Ethereum has provided additional insights into market sentiments.
Ripple CEO’s comments demanding regulatory clarity needed for the potential launch of an XRP ETF, coupled with the market optimism surrounding XRPL suggest that people are interested in XRP’s ETF prospects.
Conversely, Ethereum’s price dynamics have dived. The much anticipated Dencun update although, did push the Ethereum price to a new all-time high, but the coin has been facing a lot of volatility influenced by inquiries from US Congress members regarding Ethereum’s security status
As Ethereum’s price hovers below $3,700, the unresolved regulatory questions add a layer of uncertainty to its market trajectory, contrasting with the positive market sentiment towards XRP.