Spot XRP ETF Is Likely Next After Bitcoin and Ether: Ripple President

Ripple President Monica Long believes spot XRP exchange-traded fund (ETF) could be next in the line to be approved after the launch of Bitcoin and Ether spot ETF in the United States.

In a recent interview with Bloomberg, Long stated that the crypto sector could witness more approval of spot crypto ETFs this year.

“I think we will see one very soon. I think that we will see more crypto spot ETFs this year coming out of the US, and I think XRP is likely to be next in line after bitcoin and ether,” she said.

ETF Approval to Accelerate Under Trump

Long believes the change in the new administration will be a key factor in the imminent approval of these investment products.

“We think, especially with the administration change, the approvals of those filings will accelerate,” she noted.

This is not far-fetched, as positive changes have occurred since Donald Trump’s victory in the United States presidential election in early November.

During that month, US Securities and Exchange Commission (SEC) chairman Gary Gensler, whose leadership has been hostile to crypto firms, promised to step down on January 20, 2025, the day of Trump’s inauguration.

Under Genslers leadership, Ripple has been in a legal dispute with the SEC regarding the classification of XRP. While the agency argued that XRP is a security, Ripple has repeatedly stated that it is a digital asset. While a court ruled partially in favor of the payments firm, some unresolved arguments remain.

Thus, Gensler’s departure and the appointment of a crypto-friendly candidate for the SEC chairman role have increased the chances of a spot XRP ETF approval.

Spot XRP ETF Filings

Since October, multiple investment firms have filed applications to launch a spot XRP ETF. Cointab reported in November that asset manager 21Shares joined Canary Capital and Bitwise to file for a spot XRP ETF launch.

Only time will tell whether spot XRP will be the next to be launched after Bitcoin and Ether. There are also applications for spot Solana and a spot Litecoin ETF.