February 3, 2025
A Bloomberg analyst recently suggested that a Litecoin (LTC) ETF is more likely to gain regulatory approval before a Ripple (XRP) ETF. The ETF Race Is On Last month, Ripple President Monica Long stated that XRP would likely be the next crypto ETF to be approved after Bitcoin (BTC) and Ethereum (ETH). However, Bloomberg analyst James Seyffart is not as confident, stating that the SEC still views XRP as a security and that Ripple is currently embroiled in a legal battle with the agency. Grayscale filed with the U.S. Securities and Exchange Commission (SEC) on Thursday to convert its $16.1 million XRP trust into an ETF. Several other companies are also seeking approval for new crypto ETFs, including those for Litecoin, Solana (SOL), and Dogecoin (DOGE), as the U.S. enters a more crypto-friendly era under the Trump administration. The Long Game According to James , there is still plenty of work to be done on the ETF front for Ripple in particular, which does not necessarily apply to Litecoin. The SEC has never classified Litecoin as a security, so there is every chance a LTC ETF gets approved first, Seyffart explained. While James does not expect XRP ETFs to be approved right away, he does believe it is eventually possible for the third-largest cryptocurrency to secure one sometime later on this year.
