“I wouldn’t be surprised if a physical ETH or XRP ETF is launched in the U.S. next,” says Valkyrie’s CIO.

Virtual currency spot ETF

On the 10th, Steven McClurg, chief investment officer (CIO) of Valkyrie, an American crypto asset (virtual currency) investment company, appeared on the “Bloomberg” program and gave his outlook on virtual currency spot ETFs (exchange traded funds). said.

At that time, he said, “I wouldn’t be surprised if a physical ETF for Ethereum (ETH) or XRP were created in the United States after Bitcoin (BTC).” On the 11th (Japan time), the US Securities and Exchange Commission (SEC) approved the listing of the country’s first Bitcoin spot ETF. Valkyrie’s Bitcoin ETF is also included.

connection: All 11 Bitcoin ETFs listed, SEC approved for the first time in U.S. history for spot ETFs

This program was recorded before the SEC approved Bitcoin spot ETFs. A Bloomberg interviewer said the above when asked about the next physical financial product after Bitcoin.

McClurg pointed out that multiple companies have already applied for a spot ETF for Ethereum. Last November, he attracted a lot of attention when he filed registration documents for a trust called iShares Ethereum Trust by BlackRock, the largest U.S. asset management company.

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Regarding XRP, he also mentioned “recent trends.” At that time, McClurg cited an example in which Grayscale adjusted the portfolio of its basket-type investment trust “Grayscale® Digital Large Cap Fund,” excluding Polygon (MATIC) and adding XRP and AVAX (Avalanche). .

connection: Grayscale’s virtual currency basket investment trust adds XRP for the first time in three years

Furthermore, he said, “I don’t know if we will offer physical ETFs for Ethereum and XRP.”

Applied spot ETF

Applications have already been confirmed for the following seven Ethereum spot ETFs: As with Bitcoin, the SEC has uniformly postponed approval or disapproval of Ethereum spot ETFs.

The SEC recently approved all 11 Bitcoin spot ETFs at the same time. Originally, there was a view that multiple products would be approved at the same time to ensure fairness, but analysts have now reaffirmed that “the SEC will strategically conduct individual reviews to avoid giving an advantageous position to specific applicants.” “They delayed the process and adopted a policy of approving multiple ETFs at the same time.”

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The Ethereum spot ETF was mentioned in a report released this month by British financial giant Standard Chartered Bank. At that time, he expressed the view that approval could occur in the second quarter of 2024 (April to June).

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The bank stated that SEC Chairman Gary Gensler had stated in the past that “virtual currencies other than Bitcoin may fall under the category of securities.” When it sued the exchange for violating securities laws, it pointed out that it did not cite Ethereum as an example of a security.

As with Bitcoin, the SEC has previously approved an Ethereum futures ETF.

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