The wave of applications for Ethereum exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC) has hit the headlines recently. Amid this rush, Mike Selig, a former lawyer with the Commodity Futures Trading Commission (CFTC), has taken the opportunity to highlight the case for an XRP ETF.
The Bitcoin and Ethereum Effect
Mike Selig offered his views on the possibilities of Ethereum ETFs in light of the growing anticipation for a Bitcoin ETF. His perspective includes factors such as key speeches by regulatory figures, the SEC FinHub framework, and relevant court decisions involving digital assets. Selig sees the recent developments as strengthening the case that Ethereum is not a security, even considering its initial sale.
XRP’s Strong Stance
Selig’s comments have drawn attention to XRP’s position as a digital asset with legal clarity in the United States. The case for an XRP ETF appears even more compelling, as it’s the only digital asset that has been ruled as not a security in the infamous case with the US SEC.
Experts believe that this ruling offers a favorable backdrop for XRP’s inclusion in the ETF landscape. A close examination of the legal factors that Selig highlighted reveals that the case for Ethereum’s non-security status has grown stronger each day.
The Hinman speech and the SEC FinHub framework have been instrumental in shaping the view that Ethereum is not a security. Moreover, judicial decisions in cases involving Ripple and Terraform have further added to this perspective.
XRP ETF: A Real Possibility?
With XRP’s legal status settled, the discussion has now shifted to its potential as an ETF. Selig’s insights have brought to the forefront the strong foundation that XRP has in terms of legal clarity, setting it apart from other digital assets.
This raises the question of whether an XRP ETF could soon become a reality, paving the way for new investment opportunities in the cryptocurrency market. Only time will tell if these insights will translate into action, but the conversation has certainly begun.
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