ETF Store CEO: Release of Additional Cryptocurrency Spot ETFs Like SOL and XRP Unlikely Anytime Soon
CryptoNewsTerminal Staff13 Sep, 2024
ETF Store CEO: Release of Additional Cryptocurrency Spot ETFs Like SOL and XRP Unlikely Anytime Soon
Nate Geraci, CEO of U.S. ETF provider ETF Store, recently expressed his skepticism about the possibility of additional cryptocurrency spot ETFs being approved in the near future, including those for popular assets like SOL and XRP. According to Geraci, the current regulatory environment under the Biden administration makes it challenging for new spot ETFs to be brought to market. This is due to concerns over market manipulation and investor protection. Geraci further stated that it could take at least 1-2 years for the regulatory landscape to shift in a way that would allow for the approval of SOL and XRP spot ETFs. He emphasized that political factors, such as the upcoming November elections, could also influence the timeline. While some investors may be disappointed by this news, Geraci's comments provide a realistic assessment of the current challenges facing the cryptocurrency ETF market.
