Over the past two days, traders in the Polymarket prediction market have reduced their chances of approval$XRP -ETF from 86% to 62%.
Such a sudden drop in confidence was triggered by reports that SEC member Caroline Krenshaw plans to vote against approval.
However, Bloomberg's leading market analyst Eric Balchunas is not worried about this and remains confident that approval will be obtained with a probability of 95%.
Perhaps his calmness can be explained by the fact that Krenshaw's discontent was unlikely to be a surprise to those closely following the market. She has regularly voted against proposals related to crypto assets, including against recent votes on various exchange-traded products (ETPs).
On July 29, the SEC approved 13 votes related to cryptocurrency products, including Bitwise Bitcoin and Ethereum funds, with a vote of 3-1.
Despite the obvious objections from Krenshaw, they are unlikely to hinder broader approval of cryptocurrency ETFs. Her views reflect a cautious approach, especially regarding XRP, and emphasize the need for a full vote on such important issues rather than delegating authority.
While debates continue in the US, interest in XRP-ETFs worldwide is clearly growing. In Japan, Ripple partner SBI Holdings has already applied to create an ETF that will include both Bitcoin and XRP.#xrp #crypto #altcoins #BinanceSquareFamily
