According to Polymarket, the chances of an XRP ETF getting approved are now at 93%. This sharp increase shows that crypto investors are becoming more confident, particularly after the recent developments in Ripple’s legal case.
Traders seem to gain confidence as Ripple moves closer to settling its long-standing case with the SEC. Analysts believe that clearer rules around XRP’s security status might help to make the long-awaited XRP ETF finally happen.
BlackRock Rumours Stoke Market Excitement
Speculation that major investment firm BlackRock might soon apply for a spot in the XRP ETF has caught the attention of the Crypto community.
Even though BlackRock hasn’t officially confirmed anything, just the rumours have boosted the already growing excitement about a possible XRP ETF approval.
Jon Matthews, an ETF expert at LedgerPoint Capital, said, If BlackRock goes ahead, it could completely change how people see XRP. He also added that support from such a big institution usually means the SEC might start looking at things differently.
Bitwise, Grayscale, and Others Still in the Queue
Even though there’s a lot of excitement, many XRP ETF applications are still waiting for approval. Bitwise had initiated its application over eight months ago when XRP’s legal status was still unclear.
Since then, other companies like Grayscale, Franklin Templeton, and 21Shares have also submitted their applications, and now all are waiting for feedback from the SEC.
The SEC decision could take up to 240 days to decide on each application. This huge time is because of the required review and public feedback.
However, some legal experts believe that Ripple’s rising success in the global market might pressure the SEC to make faster decisions.
CME Futures and Global Moves Add Momentum
The recent launch of XRP futures on the CME Group was another big step for the asset’s credibility. CME’s Global Head of Crypto said that interest from large investors in XRP is growing, particularly after Ripple’s stablecoin got approved in Dubai.
Crypto.com has already shared plans to launch an XRP ETF product, while Uphold and Flare Networks are reportedly working on a DeFi-based version of an ERP ETF.
These developments are important for XRP to become more widely accepted in traditional finance. Experts say that the combination of futures and ETFs available might strengthen XRP’s position in institutional portfolios.
XRP Price Holds Firm Amid Growing Anticipation
Recently, XRP’s price went up by 1.78%. It is currently trading around $2.20. Traders say that this rise is due to several factors like progress in regulations, growing support from big Investors, and new products being introduced.
Financial experts at NovaBridge Capital said the market is becoming more hopeful about an XRP ETF, especially since the chances of approval are very high. Now, we just need to watch how fast the SEC makes decisions on these many applications.
Conclusion
The chances of an XRP ETF getting approved are now at 93%, and people are becoming more confident because Ripple’s legal situation is clearer.
Even though some applications are still waiting for the SEC decision, experts think approval might come soon, which would be a big step for XRP’s Future.
FAQs
1. How likely is an XRP ETF approval right now?
93% chance by 2025.
2. What’s behind the recent surge in XRP ETF optimism?
Ripple’s legal progress with the SEC has brought more clarity, boosting confidence.
3. Is BlackRock officially involved in the XRP ETF push?
Not yet, but speculation around an application by BlackRock is shifting market excitement.
4. Are any firms already pursuing a Ripple-based ETF?
Yes, Bitwise, Grayscale, Franklin Templeton, and 21Shares are in the game.
5. Why does Ripple’s legal battle matter for an ETF?
Ripple’s court case is deciding whether XRP is a security. That matters for the ETF.
Glossary
SEC- The US watchdog that says what’s allowed in the money world.
ETF Approval Odds- The chance of ETFs being accepted or allowed.
BlackRock- A giant money player whose moves shake the market.
Spot ETF- An ETF that owns the real crypto, not just promises.
Ripple- The company pushing XRP to change money transfers.
Sources
Cryptotimes
Coinpedia
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