Analyst: Investors should not expect regulators to approve XRP spot ETF 'soon'

According to Cointelegraph, despite the possibility that Exchange Traded Fund (ETF) issuers may be considering launching a spot XRP ETF, analysts say investors should not expect regulatory approval "soon". Analysts told Cointelegraph that due to the ongoing lawsuit by the Securities and Exchange Commission against Ripple and the absence of approved XRP futures ETF products, chances for a spot XRP ETF getting approved will be severely damaged. Townsend Lansing, head of product at CoinShares explained that unless SEC is forced or agrees to abandon its stance on XRP being a security, an XRP ETF would not be feasible. Scott Johnsson, partner at Van Buren Capital also stated he believes there's a "very small" chance which might require new leadership from SEC. Researchers like Max Shannon from CoinShares pointed out it took over ten years to approve a spot Bitcoin ETF.