Following the postponement of its decision on multiple spot XRP exchange-traded fund proposals, the United States Securities and Exchange Commission (SEC) has caused ETF analyst Nate Geraci to predict that the eagerly awaited financial products may be approved in the next two months.
Geraci, who is the President of The ETF Store, stated earlier today that the regulatory landscape is “almost ready” for additional spot crypto ETFs, XRP included.
“There should soon be a comprehensive regulatory framework for spot crypto ETFs. Approval for a spot ETH ETF staking could come at any moment. The Clarity Act is currently in the Senate. The remainder of the year is likely to be quite eventful,” he shared in a post on X.
Cryptopolitan previously reported that the SEC had postponed its decision on the 21Shares Core XRP Trust beyond the August 20 deadline, granting itself an extra 60 days. The revised ruling date is now set for October 19, during which the regulator mentioned it would evaluate public comments and address any regulatory issues under the Securities Exchange Act of 1934.
Several firms in line for approval
The postponement has periodically delayed the applications from Grayscale, 21Shares, Bitwise, Canary Capital, WisdomTree, CoinShares, and Franklin Templeton, all of which have pending XRP ETF applications under consideration. Each is anticipated to receive a final response within days of one another in mid to late October.
Additionally, Ripple’s policy team is guiding the industry towards four avenues for crypto custody in Singapore.
If the current timeline is maintained, Grayscale’s application may receive a decision by October 18, followed by 21Shares on October 19, Bitwise on October 20, and Canary Capital and WisdomTree between October 24 and 25.
Market experts predict that the SEC will evaluate these applications uniformly, similar to previous assessments of Bitcoin and Ethereum ETFs.
Members of the community monitoring the situation speculate that BlackRock, the largest asset manager in the world, might be the first to receive a decision.
Read also: New Wave of Expectations for the Spot ETF on Ethereum
