Gerachi made this bold forecast after the SEC postponed decisions on the request of Bitwise, Grayscale and Coinshares to launch spotes ETF on the XRP. He also suggested that by October, the SEC would approve of spotes ETF, tied to altcoins SOLANA (SOL) and Litecoin (LTC). The expert believes that soon the American regulator will allow investors to exchange funds for the air to receive additional profit from staying.
Indeed, in October, the SEC should make a final decision on the launch of several spotal ETFs tied to XRP. In particular, until October 18, the regulator must decide on approval or deviation of the Grayscale request for the converting of the XRP Trust Trust Trust. To make a decision on the application of 21shares to launch the ETF, tied to XRP, the department has time until October 19.
The businessman explained his assumptions in the United States a favorable regulatory framework, which, in his opinion, should “clear the way” for investment products based on altcoins.
In particular, Gerachi noted that the Clarity bill on the transparency of the digital assets market, recently adopted by the House of US representatives, is now under consideration by the Senate. This legislative initiative is aimed at making clarity in the classification of assets, as well as at the distribution of powers to regulate cryptocurrencies between the US commodity futures (CFTC) and SEC commissions. If the Clarity bill is adopted in the Senate, the document will remain to be submitted for signature to the president.
Last year, Gerachi calculated that American cryptocurrency funds control more than 900,000 BTC – this is about 4.3% of the existing supply of coins on the market.
Source: Bits
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