The SEC has started reviewing applications for spot crypto ETFs. Major players like Franklin Templeton and Grayscale are competing to launch an XRP ETF.
Review Process
The SEC began reviewing ETF applications, including Grayscale's on February 14, marking the start of a 240-day review period. Other filings from WisdomTree and Canary Capital are also open for public comments. However, the decision on Grayscale's and other ETFs has been postponed until May 2025.
Chances of Approval
Bloomberg analysts predict a 65% chance of XRP ETF approval by 2025, while Polymarket places the odds at 72%. Analyst James Seyffart noted that the delay does not affect readiness for approval by October 2025.
Decision Delay
As Paul Atkins awaits confirmation as SEC Chair, this might impact the SEC's appeal in the Ripple case. Pro-crypto lawyer Fred Rispoli believes the case will be resolved before April 2025, potentially paving the way for XRP ETF approval.
The review process for XRP ETF applications is ongoing. Expected approval could significantly impact the accessibility of XRP for investors.
