$BTC Polymarket punters expect the US Securities and Exchange Commission to approve a slew of spot XRP exchange-traded funds, which could trigger a $8 billion trading bonanza. Bettors give them a 73% chance of being approved this year.

XRP’s fortunes are intimately linked to Ripple. The company’s founders developed the cryptocurrency, and its RippleX team oversees the development of the XRP Ledger. The network has been open source since 2015.

Ripple uses XRP to facilitate cross-border payments.

On March 31, the business held close to 4.6 billion XRP, plus 37.1 billion that are subject to on-ledger escrow, according to Ripple’s Q1 XRP Markets Report. Combined, that’s about 41% of the max supply, worth about $88 billion in today’s prices.$BTC