A well-known legal expert from the XRP community is lashing out at American regulators. While spot ETFs for Solana, Litecoin, and Hedera are rapidly being approved, a similar product for XRP remains elusive. According to lawyer Bill Morgan, there is outright discrimination.
Solana and Litecoin get the green light
In response to the news from Bitwise and Canary Capital, lawyer Bill Morgan speaks of “incomprehensible skewed growth”. While XRP is still awaiting approval, investors will soon be able to invest directly in Solana (SOL), Litecoin (LTC) and Hedera (HBAR) via spot ETFs on Nasdaq and the New York Stock Exchange.
Bitwise confirmed that their Solana Staking ETF (BSOL) has now been listed on the NYSE. Canary Capital’s ETFs for Litecoin and Hedera will follow this week. Grayscale is also about to convert its Solana Trust into a full-fledged ETF.
What makes it even more unpleasant: these funds were approved through a legal loophole. Due to the ongoing government shutdown in the US, some ETF applications are taking effect automatically, without active action by the SEC.
“Why isn’t XRP allowed to participate?”
Bill Morgan, an outspoken advocate of Ripple, responded strongly to According to him, it is clear that there are double standards.
The SEC was expected to rule on several applications for an XRP spot ETF at the end of October, but that decision has been postponed again. And this while the market reacts very quickly to the approval of other funds.
“XRP is treated differently, and that is inexplicable,” Morgan said.
Yet XRP remains remarkably strong
Remarkably, the price of XRP does not care much about the entire situation. The price is currently around $2.63 – an increase of almost 7 percent on a weekly basis.
Even after major investors (whales) sold around 140 million XRP in recent days, the price held firm. That points to a market that remains confident, despite the lack of major breakthroughs such as an ETF approval.
For many investors, it feels like waiting for something that is long overdue.
Source: https://newsbit.nl/xrp-wordt-bewust-tegengehouden-jurist-woedend-na-goedkeuring-sol-hbar-en-ltc-etf/
