Anticipation is mounting in the United States for the approval of altcoin-centric spot ETFs, with particular attention on popular assets like XRP and Dogecoin. Recently, the Securities and Exchange Commission (SEC) postponed decisions on both Cardano’s and Franklin Templeton’s XRP ETF, setting a new date for June 17, 2025. This delay hasn’t deterred 21Shares and WisdomTree, who are actively moving forward with their Dogecoin and XRP ETF applications, respectively. Despite these delays, Polymarket, a prediction platform, remains optimistic, projecting over a 68% chance of SEC approval for major altcoins.
What Is Polymarket’s Projection for XRP?
According to Polymarket’s metrics, XRP stands strong with an 83% likelihood of securing an ETF approval. Other notable altcoins like Solana, Cardano, and Litecoin are also demonstrating significant potential, breaking through prominent psychological marks as their contract prices reach above $0.70.
Conversely, PEPE is not faring as well, presenting only a 9% probability of approval. Industry participants display confidence that the swift approval of spot Bitcoin ETFs in January could signal a forthcoming wave of altcoin ETF endorsements.
Are SEC Delays Creating More Expectations Among Investors This Year?
Investors are speculating that delays by the SEC could ultimately foster a chain of approvals for altcoin spot ETFs in early 2024. Dates like June 17, 2025, for Franklin Templeton’s XRP, and current processes like WisdomTree’s 21-day public review, are deemed crucial for progress in altcoin ETFs.
Participants in the market are anticipating the introduction of comprehensive regulations post-election, thereby adjusting their strategies to align with potential outcomes in regulatory stance that could elevate Polymarket’s contract prices.
In light of potential ongoing delays, forthcoming guidelines expected in July could mitigate looming uncertainties. Investors are advised to maintain portfolio flexibility and devise hedging strategies early, potentially leveraging futures trades to buffer against market volatility.
Trying times for altcoin ETFs manifest in the waiting game leading up to significant markers like June 17, which is pivotal for validating the path of XRP and other altcoin ETFs. Though optimism can be gleaned from Polymarket’s data, prudence is essential as this year promises to be critical in the altcoin ETF landscape.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/will-xrp-etfs-reach-the-finish-line