XRP's path to ETF approval may be facing potential roadblocks due to ongoing opposition from SEC Commissioner Caroline Crenshaw.
Crenshaw’s Opposition Slows ETF Progress
Crenshaw's opposition has caused a sharp decline in the odds for XRP's ETF approval, which has dropped to 65% from earlier highs of 80-90%. As the sole voice of opposition at the SEC, Crenshaw's position may keep XRP out of the ETF market for a long time.
She voted against all 13 crypto-related ETP proposals, including those based on Bitcoin and Ethereum. This raises concerns that XRP ETF approvals may face similar hurdles. While many in the crypto industry express optimism about XRP's future in the ETF space, Crenshaw's consistent objections stand as a significant barrier.
Speculation Around BlackRock XRP ETF
Amidst these regulatory challenges, there is growing speculation regarding a potential BlackRock XRP ETF. Maxwell Stein, BlackRock’s Director of Digital Assets, is set to speak at Ripple’s Swell 2025 conference, leading to rumors that the firm may soon file for an XRP ETF. If this occurs, it could push forward the approval process despite Crenshaw's ongoing resistance.
Future of XRP ETF Remains Uncertain
With Crenshaw's opposition to crypto-related financial products, the future of XRP ETFs remains uncertain. The next few months will be crucial in determining whether the industry can navigate these regulatory challenges or whether Crenshaw's influence can block further progress.
Thus, in light of the uncertainty stemming from the SEC's opposition, the future of XRP ETF poses an important question that requires further consideration and market action.
