Bitwise recently filed for an XRP ETF, sparking discussions among industry experts about how the upcoming US election might impact its approval.The SEC&#39;s ongoing appeal against Ripple Labs adds uncertainty, potentially delaying the ETF&#39;s fate. Bitwise&#39;s filing, along with another from Canary Capital, highlights a growing interest in direct crypto asset funds, although regulatory clarity remains a challenge.<a href="https://optimisus.com/market/market-news/ripples-clo-slams-the-secs-latest-appeal-in-the-ongoing-xrp-legal-battle/" rel="noopener noreferrer nofollow">XRP</a>, valued at $33 billion, is seen as a key player in cross-border payments. Analysts like Neena Mishra suggest that a Trump victory in the 2024 election could lead to a more favorable regulatory environment for crypto, possibly resulting in a change of <a href="https://optimisus.com/market/market-news/the-sec-has-just-days-left-to-decide-if-it-will-appeal-the-ripple-case-ruling/" rel="noopener noreferrer nofollow">SEC</a> leadership. Conversely, if Vice President Harris wins, the ETF may face more hurdles under the current SEC chair, Gary Gensler.The SEC has 240 days to respond to Bitwise&#39;s application, but the ongoing legal battle with Ripple complicates matters. If the SEC&#39;s appeal is successful, the chances of the ETF&#39;s approval could diminish significantly.Despite these challenges, recent approvals of spot bitcoin and ether ETFs indicate a potential shift in the SEC&#39;s stance, with some optimism from industry players about future developments.

Bitwise's XRP ETF Faces Roadblocks: SEC Appeal and Political Landscape

Optimisus

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