High probability of XRP Exchange-Traded Fund (ETF) approval reaches 90% once more.
The cryptocurrency market is abuzz with anticipation as the approval of XRP exchange-traded funds (ETFs) is almost a certainty, according to recent reports.
Bloomberg analysts have reiterated this optimistic outlook, with the approval odds for XRP ETFs currently standing at nearly 94%, as per Polymarket data. This surge in approval odds is a significant development for the XRP community, as it indicates a potential shift in the regulatory landscape for digital assets.
In mid-March 2025, Franklin Templeton filed the main public spot-XRP ETF application with the Securities and Exchange Commission (SEC) in the USA. Joining them, Grayscale has announced plans to convert its existing XRP Trust into a spot ETF by submitting an S-1 registration statement and a Form 19b-4 in January 2025.
However, the real question is whether these ETFs will attract enough demand. Some naysayers believe that such products will expose the lack of institutional interest in the XRP token, potentially causing its demise. However, ETF analyst Nate Geraci expects these ETFs to outperform market expectations.
Notably, some major players have yet to join the XRP ETF race. BlackRock and Fidelity, two of the world's largest asset managers, have not filed for XRP-based ETFs. Instead, Fidelity has filed for a Solana-based ETF, indicating a growing interest in the broader cryptocurrency market.
Despite the positive news, XRP has seen relatively little volatility after losing the psychologically important $3 level. The token is down roughly 22% from its record high of $3.65 achieved in July. At press time, XRP is trading at $2.84.
The approval of XRP ETFs could potentially stabilise the token's price and attract more institutional investors, leading to increased demand and potentially higher prices. However, only time will tell if these ETFs will live up to the expectations.
In conclusion, the approval of XRP ETFs is a significant development for the cryptocurrency market, with odds surging above 90%. The entrance of major players like Franklin Templeton and Grayscale into the XRP ETF race, coupled with analysts' expectations of these ETFs outperforming market expectations, suggests a promising future for XRP.
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