Confidence in an XRP Exchange-Traded Fund (ETF) approval has skyrocketed within the crypto community, driven by recent polls and optimism surrounding the new pro-crypto U.S. government and SEC leadership under Chairman Paul Atkins.
A poll launched four days ago reveals a 20% increase in optimism for an XRP ETF approval within just 24 hours, reflecting growing market enthusiasm. Additionally, a poll from early December indicates a 49% chance of approval by July 31, 2025, with some crypto enthusiasts projecting a 70% likelihood to reach 100% by the end of Q1 2025.
The SEC is currently reviewing applications for XRP ETFs from prominent asset managers, including Bitwise, 21Shares, Canary Capital, and WisdomTree. Bitwise initiated the process in October 2024, paving the way for others to follow. With Paul Atkins replacing Gary Gensler, community members believe XRP ETFs now have a stronger shot at approval.
Ripple Effect Across Altcoins
XRP isn’t the only cryptocurrency generating buzz in ETF markets. Betting odds for other altcoin ETFs are also gaining traction. A Solana ETF poll shows an 82% chance of approval by 2025, marking a 32% increase in just one day. Comparatively, Dogecoin and Litecoin lag with approval odds of 23% and 42%, respectively, signaling skepticism among market participants about their ETF prospects.
Bloomberg Analyst Shares Insight
Bloomberg ETF analyst Eric Balchunas expressed amazement over the growing ability to bet on altcoin ETFs, jokingly remarking, “What a country.” While he remains cautious about the optimism, Balchunas noted that no active 19b-4 filings for these ETFs exist yet, and the typical 240-day approval timeline might push decisions beyond July. However, he acknowledged that the crypto-friendly SEC leadership could expedite approvals.
Also Read: XRP on Edge, Analysts Predict Surge to $4.1 or $5.85 Despite Recent Dips
As the crypto market continues to anticipate regulatory clarity, the enthusiasm surrounding XRP ETFs underscores the broader demand for institutional-grade investment products in the digital asset space.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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