Investor expectations for XRP-based exchange-traded funds (ETFs) have been rising rapidly.
According to Polymarket data, the probability of approval for XRP spot ETFs has surged to 83% this week. Although the U.S. Securities and Exchange Commission (SEC) has postponed its decision-making process regarding the applications, the optimistic market sentiment remains intact. All eyes are now set on the decision anticipated in October.
Expectations Rise for Spot XRP ETF Approval
In recent days, predictions for the approval of exchange-traded funds based on XRP have notably increased. On the prediction market Polymarket, the likelihood of approval jumped from 70% to 83% in just a few days. This indicates that a large portion of investors believes that the SEC will give the green light to XRP-based ETF applications. The most remarkable aspect of this surge is that the SEC has not yet made an official decision and has extended the evaluation process.
Platforms like Polymarket rely on real-time investor forecasts, making them a significant indicator in the market. The intense interest in XRP ETFs extends beyond their price potential. It is also considered a critical step towards gaining institutional acceptance of XRP within U.S. markets. Investors deem the integration of cryptocurrencies with traditional financial tools as inevitable.
Optimism Endures Despite SEC’s Delay
The U.S. Securities and Exchange Commission has deferred its decision regarding XRP-based ETF applications. Among the applicant companies are industry heavyweights such as Bitwise, Franklin Templeton, CoinShares, and Grayscale. However, SEC officials state that this delay does not indicate a negative implication; it is merely part of the natural review process. The commission is expected to deliver its final decision in October.
Market analysts highlight that similar delays have occurred with past ETF applications, considering it a standard practice. Experts believe the SEC is proceeding cautiously to avoid misleading the public. Nevertheless, the cryptocurrency community perceives the process as a promising development. Delays are no longer seen as a cause of concern for investors, but rather as an indicator of a rigorously managed process.
The growing confidence in XRP ETFs is also influencing investor behavior. Market players are preparing to position themselves based on the SEC’s decision, expecting that approval of such products will increase institutional interest in XRP. Such a scenario could alter not only XRP’s price but also the overall outlook of the cryptocurrency market.
