Earlier today, the odds of the U.S. Securities and Exchange Commission (SEC) approving an XRP exchange-traded fund (ETF) plunged to 66%, the lowest level since January. However, Bloomberg analyst considers this an overreaction.
XRP ETF Approval Odds
According to recent data, the odds of XRP ETF approval decreased to 66%. This came after it was revealed that SEC Commissioner Caroline Crenshaw voted against every initiative related to crypto ETFs.
Bloomberg Analyst's Opinion
Eric Balchunas, senior ETF analyst at Bloomberg, commented that the drop in XRP ETF approval odds is a reaction to isolated events and does not reflect the overall picture. He maintains that the approval odds are still high at 95%.
SEC Commissioner Caroline Crenshaw's Criticism
Crenshaw opposed all 13 initiatives related to crypto ETFs, which raised concerns among investors. However, many experts believe her voting is not very significant since she remains outnumbered by other commission members.
Despite the recent drop in XRP ETF approval odds, analysts remain optimistic. Considering expert opinions and the current situation within the SEC, the chances for success remain high.
