XRP ETPs and Crypto ETFs to See Delays This Summer: Bloomberg Analyst

According to Bloomberg ETF analyst James Seyffart, the U.S. Securities and Exchange Commission (SEC) is expected to delay its decisions on approving spot cryptocurrency exchange-traded funds (ETFs). 

In a recent post on X, Seyffart wrote that even though many XRP exchange-traded products (ETPs) have deadlines within the next few days, approvals for these and other crypto ETFs aren’t likely to happen until late June or early July.

He added that a more realistic deadline would be early in the fourth quarter of this year.

Crypto industry awaits SEC decision

Since they allow investors to gain direct exposure to digital assets without holding such cryptocurrencies directly, spot crypto ETFs have been in huge demand in the U.S. financial market. 

However, the SEC has remained cautious in approving other crypto ETFs despite the success of Bitcoin and Ethereum ETFs, which were approved last year.

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According to analysts, should Seyffart’s prediction come true, the delay would be surprising given that many industry leaders have been seeking mainstream financial integration for the cryptocurrency market. 

Hence, they had hoped that quicker regulatory approval for these XRP ETPs and other crypto assets would be proof of the market’s maturity and faster inclusion in the traditional market.

XRP ETF hopes face SEC delays

As the industry awaits the regulator’s decisions on these ETFs, many expect that there will be continued dialogue between crypto asset managers and regulatory authorities in addressing the remaining concerns about these financial products.

As previously reported, Ripple’s CEO was in Washington, D.C. last night to further discussions on how to help improve crypto regulations. Following the launch of the much-anticipated XRP futures, ETF Store president Nate Geraci believes that an XRP ETF launch is the next big move for the cryptocurrency.

According to CoinMarketCap data, $118.32 billion worth of cryptocurrencies were traded in the past 24 hours. However, this marks a 22.55% drop compared to the previous day’s volume.

The data also shows that Bitcoin remains the most dominant digital asset, holding a 63.3% share of the total market.