The Securities and Exchange Commission (SEC) Chairman, Gary Gensler, has expressed his hope for the launch of an Ethereum (ETH) Exchange-Traded Fund (ETF) before the end of summer. This statement comes amidst the ongoing lawsuit between the SEC and Ripple, the company behind XRP Coin. Ripple has been trying to convince the court that it is separate from the token, but has so far been unsuccessful.

Gensler has reiterated his stance that many cryptocurrencies, including ETH, are securities. However, the SEC's approval of an ETH ETF suggests that the institution may not view ETH as a security. This contradiction has sparked debate in the crypto community, with Ripple's Chief Legal Officer, Stuart Alderoty, expressing frustration with Gensler's statements.

The FIT21 bill, which has received bipartisan approval in the House of Representatives, could resolve the conflict between the SEC and the Commodity Futures Trading Commission (CFTC) on altcoin classification. If passed, the bill would give the CFTC the authority to determine which altcoins are commodities, potentially ending the regulatory uncertainty surrounding cryptocurrencies.

The crypto community is watching the developments closely, with many investors hoping for clearer regulations and guidelines. The outcome of the Ripple lawsuit and the passage of the FIT21 bill could have significant implications for the future of cryptocurrency in the US.

In the meantime, the price of XRP Coin continues to fluctuate, with many investors holding onto hope that the lawsuit will be resolved in Ripple's favor. The company's efforts to distance itself from the token have so far been unsuccessful, but the ongoing legal battle highlights the need for clearer regulations in the crypto space. As the situation unfolds, one thing is certain - the future of cryptocurrency in the US hangs in the balance.