Is a spot ETF for Ripple (XRP) on the horizon?

After the US Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs, eyes turned to other well-established cryptocurrencies Ether (ETH) and Ripple (XRP). Although some crypto influencers tried to make Ripple lovers hopeful about the ETF with manipulative posts, experts expressed different opinions.

Cryptocurrency experts speaking to Cointelegraph did not support the expectation created on social media due to the ongoing legal process between the SEC and XRP and the fact that a futures Ripple ETF is not currently listed.

Ripple ETF unlikely in near future

Townsend Lansing, head of product at CoinShares, does not see an exchange-traded fund listing on the horizon unless the Commission excludes Ripple from its securities purview. Another person speaking to the sources, Van Buren Capital manager Scott Johnsson, agrees with Lansing's views, but thinks that the possibility of a spot Ripple ETF listing is very slim in the near future.

ohnsson noted that for a spot crypto fund to list, the SEC would have to monitor futures products for years:

“Even if a futures XRP fund is listed on CME tomorrow morning, the SEC needs to monitor futures ETFs for years before switching to spot in order to prevent negative situations in the spot market.”

How did XRP start the new day?

Ripple Labs' cryptocurrency XRP, which was negatively affected by the general decline in the market, finds buyers at $ 0.51 as of Wednesday morning. Ripple lost 2.4 percent in value in the last 24 hours.