It's probable that the XRP ETF will be authorized before Ethereum: Head of Investments at Valkyrie Wealth Management
It is more probable that Litecoin and XRP ETFs will be allowed before an Ethereum alternative.
Cryptocurrency is a security, according to Steven McClurg, chief investment officer at Valkyrie Funds.
The SEC will probably reject the Spot Ethereum ETF, according to McClurg.
Traders' expectations for an Ethereum (ETH) ETF have grown in recent weeks, but the general opinion on social media platform X is that the US Securities and Exchange Commission (SEC) would probably reject such a fund.
An insider's perspective was offered by Eleanor Terret, a Fox Business reporter, at a recent fireside chat with the chief investment officer of Valkyrie Funds.
Ethereum may lose ground to Litecoin and XRP exchange-traded funds.
A Litecoin (LTC) exchange-traded fund (ETF) is being considered, according to Eleanor Terret of Fox Business, who notified those involved in the cryptocurrency industry. According to Terret, the SEC could be more likely to accept Litecoin than Ethereum due to the functional similarities between the two cryptocurrencies.
The CFTC-approved futures contracts for Dogecoin, Litecoin, and Bitcoin Cash will be available for purchase on April 1st, according to a recent announcement by Coinbase Derivatives. This lends credence to the idea that the SEC may approve a Litecoin ETF.
A portion of Terret's fireside conversation with Steven McClurg, chief information officer (CIO) of Valkyrie Funds, was tweeted. According to McClurg, a Spot ETH ETF will be rejected by the SEC since they would likely consider Ether a security. However, McClurg claims that Litecoin and XRP ETFs will be approved before Ethereum.
The position of Ethereum and Litecoin has been defined by the US CFTC, which has categorized them as commodities; nevertheless, the way these cryptocurrencies are handled by the SEC remains uncertain.
