XRP ETF approval hopes grow despite SEC hurdles
XRP ETF approval odds surge to 83% on Polymarket
Investor expectations for a spot XRP ETF approval have risen sharply, with Polymarket now showing an 83% chance of approval.
This surge in optimism comes even as the U.S. Securities and Exchange Commission (SEC) delays decisions on key filings from firms like Bitwise, Grayscale, and CoinShares, reports Cryptopolitan.
Bloomberg ETF analyst James Seyffart noted that such delays are standard and that final decisions will likely arrive in October. He emphasized that an early decision would be unusual, even under the current more crypto-friendly regulatory climate. Despite regulatory holdups, the rising approval odds reflect mounting institutional interest in XRP-based investment products.
Ripple and ETF momentum fuel investor interest
Ripple CEO Brad Garlinghouse highlighted the significance of ETFs as a gateway for institutions to enter crypto markets. In a recent podcast episode, he explained that regulated financial instruments like ETFs remove the complexity of self-custody and unregulated exchanges.
Garlinghouse referenced the rapid success of Bitcoin ETFs, which reached $10 billion in assets faster than any previous ETF. He believes XRP could follow a similar path once approved, helping institutions gain exposure more efficiently. This narrative supports the growing belief that XRP is poised to become the next major digital asset with an ETF.
XRP futures products add credibility to ETF case
The recent launch of XRP futures ETFs has added momentum to the push for a spot ETF. Nasdaq listed the first XRP futures ETF under the ticker XRPI, while CME introduced its own XRP futures contracts. These developments provide institutional investors with regulated tools to engage with XRP, further legitimizing the asset.
Additionally, the debut of leveraged XRP products, such as Tectrium’s 2x Long Daily XRP ETF, signals expanding market interest. These moves not only increase XRP’s visibility but also strengthen the argument for a spot ETF approval in the near future.
Recently we wrote that VanEck has openly criticized the U.S. Securities and Exchange Commission (SEC) for repeatedly delaying its decisions on key Bitcoin ETF proposals.
