Cryptographic analyst Lark Davis“Crypto Lark” believes some massive catalysts could arrive by 2024.
Cryptographic analyst Lark Davis“Crypto Lark” believes some massive catalysts could arrive by 2024.
The year 2024 has notably started on a high note with the approval of a spot ETF for Bitcoin. The US Securities and Exchange Commission (SEC) allowed the first US-listed exchange-traded funds (ETFs) that track Bitcoin, ushering in a new era for the world’s largest cryptocurrency and the largest crypto industry.
The U.S. Securities and Exchange Commission’s green light for ETF products comes after a decade-long fight with the crypto industry.
With a major hurdle cleared by the approval of Bitcoin spot ETFs, the crypto community is abuzz with optimism regarding the prospects of a spot ETF for other major cryptocurrencies.
In this regard, Crypto Lark believes that Ethereum spot ETFs could arrive in May, which is the first final deadline for SEC approval.
A16Z General Counsel Miles Jennings believes the SEC capitulated on the question of whether ETH is a security when it approved ETH futures products.
Crypto Lark supports this argument and states that the introduction of ETH futures ETFs may indicate that ETH is not considered a security.
Given this, Crypto Lark believes that an XRP ETF could be on the way, given the landmark ruling in the Ripple SEC lawsuit that determined that XRP was not a security.
Following the debut of Bitcoin spot ETFs, Valkyrie Funds co-founder and chief investment officer Steve McClurg hinted at the prospect of Ethereum or XRP exchange-traded funds (ETFs).
However, the timing, sequence, and even the possibility of these events occurring are unknown; Meanwhile, XRP and the entire crypto world are crossing their fingers for the next big ETF approval after Bitcoin.
Other key events coming up in 2024, according to Lark Davis, include the Ethereum Dencun upgrade and the Bitcoin halving.
