XRP ETF Left Out as Litecoin and Hedera Spot ETFs Ready to Launch

TLDR

• Litecoin and Hedera spot ETFs are set to begin trading on NASDAQ tomorrow.
• The NYSE has certified the necessary filings for the launch of Litecoin and Hedera ETFs.
• XRP continues to face delays in ETF approvals, missing out on the launch alongside Litecoin and Hedera.
• Legal provisions permit crypto ETFs to proceed even during the U.S. government shutdown.
• XRP’s exclusion from ETF launches highlights ongoing regulatory challenges for the cryptocurrency.

Litecoin (LTC) and Hedera (HBAR) will officially launch their spot ETFs tomorrow, according to Steven McClurg, CEO of Canary Funds. These ETFs will begin trading on the NASDAQ, following the successful launch of Ethereum. The approval of these ETFs is part of a larger trend, as the NYSE also confirmed certifications for multiple crypto ETFs. However, one notable cryptocurrency is missing from this list: XRP.

Litecoin and Hedera ETFs Set to Launch

The Canary Funds has confirmed the launch of both the Litecoin and Hedera spot ETFs tomorrow. These ETFs are expected to begin trading on NASDAQ after a series of regulatory approvals. McClurg emphasized that this move represents a continued expansion of crypto ETFs, following the launch of Ethereum’s ETF.

Bloomberg’s Senior ETF Analyst Eric Balchunas confirmed the NYSE had certified the necessary filings for the launch. The listing notices for the Litecoin and Hedera ETFs were posted, confirming the launch plans. Barring any last-minute SEC intervention, the launches are scheduled as planned for tomorrow.

Despite the ongoing U.S. government shutdown, the legal provisions allow these ETFs to go live. The NYSE’s certifications of Form 8-A filings mark the final procedural step before trading. The mechanism allows ETFs to move forward without active SEC oversight, enabling these launches to proceed uninterrupted.

Why is the XRP ETF Missing?

While Litecoin and Hedera are on track, the XRP ETF remains absent from the approved list. XRP investors have expressed disappointment as the asset continues to face delays in key developments. Legal expert Bill Morgan noted that delays surrounding XRP have been a recurring issue.

Morgan also noted that XRP’s price movements tend to mirror those of Bitcoin closely. He explained that even with the approval of multiple crypto ETFs, XRP’s price might not rise unless Bitcoin sees growth. Despite this, the ongoing exclusion of XRP from ETF launches has left many in the crypto community questioning its prospects.

XRP’s absence from the list stands out as the market sees other cryptocurrencies, such as Solana (SOL), gaining approval. Analysts speculate that this delay may stem from regulatory hurdles or unresolved legal issues.

Despite the growing acceptance of other cryptos in the ETF market, XRP investors are left waiting. The ongoing issue underscores the complex regulatory landscape that continues to affect XRP’s future in the ETF space.

The post XRP ETF Left Out as Litecoin and Hedera Spot ETFs Ready to Launch appeared first on CoinCentral.