As the crypto ETF landscape gains traction, one SEC commissioner remains a vocal holdout.
Caroline Crenshaw’s continued opposition to digital asset exchange-traded products is casting uncertainty over the future of an XRP ETF—causing approval odds to drop from over 90% to as low as 65%, according to Polymarket data.
In a series of 13 recent internal SEC votes covering major crypto ETF filings and in-kind redemption protocols, Crenshaw was the sole dissenter. While the rest of the Commission approved updates that now align Bitcoin and Ethereum ETFs with commodity funds like gold, Crenshaw stood firm.
Her skepticism extends beyond ETFs. She’s also criticized recent SEC guidance on liquid staking and USD-pegged stablecoins, calling them both legally weak and misleading—particularly objecting to the marketing of stablecoins as “digital dollars.”
The impact is being felt. Sentiment around XRP ETFs has cooled, especially after Crenshaw voted against filings tied to NYSE Arca—despite ProShares’ leveraged XRP ETF (UXRP) launching successfully in July.
Still, some industry voices remain optimistic. Bloomberg’s Eric Balchunas believes the SEC may still greenlight altcoin ETFs, including XRP, now that it meets the agency’s six-month derivatives trading requirement. Speculation is also mounting around a possible BlackRock XRP ETF, fueled by news that its Director of Digital Assets will speak at Ripple’s Swell 2025 event.
Even with improving infrastructure and institutional support, Crenshaw’s firm resistance signals that approval may not come as quickly—or easily—as many had hoped.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/xrp-etf-confidence-slips-as-sec-commissioner-holds-firm/