New SEC Leadership May Foster Easier Approval of Cryptocurrency Exchange-Traded Funds

SEC Head That Will Be More Open to Crypto Exchange-Traded Funds

XRP is currently trading at $2.54.

Chart: TradingView

Bitcoin-Ethereum ETF To Get the Go-Ahead

Balchunas and fellow Bloomberg analyst James Seyffart believe that an exchange-traded fund (ETF) combining Bitcoin and Ethereum would be the first crypto-based traded securities to receive approval from the SEC.

“Dual bitcoin and ethereum ETFs from Hashdex, Franklin [Templeton] and Bitwise will likely be the next spot crypto ETFs approved,” Seyffart said in a post.

Asset managers from Bitwise, Hashdex, and Franklin Templeton are anticipating the launch of this exchange-traded fund that combines the two cryptocurrencies with the largest market capitalization. As a result, these asset managers have already expressed their interest in issuing the traded securities.

Earlier this year, the SEC approved an ETF for Bitcoin in January and another for Ethereum in July. Meanwhile, the new exchange-traded fund would be the first time the two largest cryptos are merged into one traded securities.

New SEC Head More Open to Crypto Exchange-Traded Funds

The approval of a joint XRP-Solana ETF could be delayed as some analysts believe that the current SEC administration might not permit the traded securities, given that both XRP and Solana have been involved in legal battles wherein they were classified as securities.

Source: bitcoinist.com