The odds that XRP Exchange Traded Funds (ETF) will receive approval in the first quarter of 2025 recently registered a 20% increase in under 24 hours on the popular prediction platform Polymarket. The approval odds have risen to 70%, signaling increased optimism amongst the broader crypto community.
XRP ETF Approval Likely to Create Ripples
The polls for the potential XRP ETF approval were launched in December. Around this time, there were whispers of an impending XRP ETF approval.
Upon the launch of the poll, it showed a 48% chance that the approval would come from the securities commission by July 31, 2025. Based on the new trend, this figure could increase to 100% by the end of March.
The potential debut of an XRP ETF may mark a significant and pivotal moment for the crypto ecosystem. Blockchain payment firm Ripple is taking a huge step by integrating XRP into an ETF structure. The firm is trying to close the gap between the digital currencies sector and traditional finance.
Crypto Atmosphere to Take New Turn Under Trump’s Administration
This outlook could be attributed to the potential change of the United States Securities and Exchange Commission (SEC) leadership. A few weeks ago, 78-year-old Republican politician Donald Trump nominated former SEC Commissioner and current CEO of Patomak Global Partners, Paul Atkins, as the agency’s Chair.
Trump is attempting to establish a crypto shift in the region by making such a move. Also, this aligns with the Digital Chamber’s Token Alliance’s request to reset the agency.
Noteworthy, Trump’s SEC nominee Atkins is a member of the alliance’s advisory board. This Alliance strongly supports aligning the SEC and the crypto asset sector.
SEC is Yet to Acknowledge XRP Fund Applications
So far, the SEC has received ETF applications from Bitwise, Canary Capital, 21Shares, and WisdomTree in this sequence.
The first applicant, Bitwise, moved toward a spot XRP ETF product in Delaware in October before filing with the regulator. Canary Capital’s filing followed barely a week after, and that of 21Shares came the following month.
In the meantime, the SEC has yet to acknowledge any of these XRP ETF filings publicly. While the crypto community awaits the decision of the agency, Polymarket participants are also placing bets on Solana, Dogecoin, and Litecoin ETFs.
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