According to recent reports, the likelihood of approving XRP-based crypto ETFs by the end of July has significantly decreased, and the SEC continues to work on regulating this market.
Likelihood of XRP ETF Approval
Currently, the odds of approving an XRP-based ETF by July 31 stand at just 7%. This drop has occurred from 32% at the beginning of the month and 50% in April, according to Polymarket data.
New SEC Guidance
The SEC is currently developing special guidance aimed at streamlining the approval process for crypto ETFs. The first part of this guidance, outlining disclosure requirements, was released earlier this month.
Future of Crypto ETFs
The second part of the SEC's guidance will be more substantial as it will focus on a universal listing framework, replacing the current filing process. No new ETF approvals are expected until the second part of the guidance is implemented, which is likely to happen closer to autumn.
The SEC continues to work on streamlining the crypto ETF approval process; however, the prospects for approval remain uncertain, reflecting ongoing challenges in the market.
