Litecoin ETF May Come Before XRP ETF

Experts Say

Eric Balchunas, one of the leading ETF analysts, has poured cold water on the prospect of an XRP exchange-traded fund being approved by the U.S. Securities and Exchange Commission (SEC) in the near future.

In fact, according to Balchunas, the SEC is likely to approve a Litecoin ETF before an XRP ETF.

Earlier this month, the SEC reportedly notified at least two of five potential issuers of its intent to reject their spot Solana ETF applications.

The SEC is widely expected to take a more crypto-friendly stance next year after crypto-libertarian Paul Atkins was nominated to succeed SEC Chairman Gary Gensler. However, Balchunas said that this does not mean that an XRP ETF will be approved shortly after Atkins begins his term.

Both XRP and Solana face “complex legal issues” that must be resolved before the SEC can approve a spot ETF. However, Balchunas said that neither Litecoin (LTC) nor Hedera (HBAR) have ever been called securities by the SEC, making their path to spot ETFs less complicated. At the same time, the analyst warned that it is unclear whether there is enough investor demand for the ETF product recently filed by Canary Capital.

Which coin do you think will get ETF approval first?