XRP ETF Approval Odds Fall to 62% After SEC Commissioner Opposes Crypto ETFs
The likelihood of approval for spot XRP ETFs has decreased to 62% from 86% following U.S. SEC Commissioner Caroline Crenshaw's opposition to crypto ETFs.
XRP ETF Approval Odds Decline
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<li Odds dropped from 86% on August 5 to 62% recently, according to Polymarket data.
<li Last week, optimism for approval increased due to XRP meeting the SEC’s updated criteria requiring six months of derivative trading activity.
<li Speculation suggests a potential BlackRock XRP ETF is in development.
<li Ripple partner SBI Holdings filed for a dual ETF involving Bitcoin and XRP in Japan, indicating rising demand for XRP ETFs in overseas markets.
SEC Commissioner Votes Against Crypto ETFs
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<li On August 6, the SEC voted on various crypto ETPs with a 3-1 majority, Crenshaw being the sole dissenting vote.
<li Crenshaw opposes the approval of crypto ETFs and broader crypto policy, criticizing recent SEC guidance as weak and disconnected from practical applications.
<li The SEC approved in-kind creation and redemption processes for Bitcoin and Ethereum ETFs.
