- XRP ETF approval chances jumped to 83% as SEC delays didn’t dampen market optimism.
- XRP futures products on Nasdaq and CME boost institutional access, mirroring Bitcoin ETF momentum.
The chances of regulatory approval for an XRP exchange-traded fund (ETF) increased significantly. Based on information from Polymarket, the chances increased by 13% over the last week, taking the approval chances to 83%, even as the United States Securities and Exchange Commission (SEC) postponed decisions on pending applications.
Several major fund management groups, including Bitwise, CoinShares, Franklin Templeton, and Grayscale, are waiting to hear back from the SEC. Though the waits were extended, they were not unexpected. The analysts following the delay now expect a firmer timeline to take shape next month when the next wave of rulings should take place.
This shift in odds occurred at the same time the SEC delayed its decision on a series of crypto-related ETF applications. These delays reflect similar moves made by the agency in May when it pushed out the review windows for a series of proposals not only related to XRP but also to various other cryptocurrencies.
XRP Futures ETF on Nasdaq Marks Turning Point
Last week saw a significant development potentially adding to the growing optimism. Volatility Shares launched the first XRP futures ETF on the Nasdaq trading platform with the ticker symbol XRPI. This was preceded by the May 19 launch of an XRP futures product on the CME Group platform, a further deepening of XRP’s integration into the broader markets.
New financial instruments now enable institutional and retail investors to trade XRP on the basis of expected price instead of buying the token. It was previously only available for Bitcoin and Ethereum. XRP’s inclusion in futures markets reflects the shift in how traditional finance has begun to regard it on the same terms as digital assets.
Adding to the momentum, Tectrium has introduced its 2x Long Daily XRP ETF, providing a leveraged exposure to the cryptocurrency. This fund enables speculators to bet more heavily on the price fluctuations in XRP, reflecting the increased interest in the cryptocurrency among market participants.
Institutional Access Driving Momentum
Ripple CEO Brad Garlinghouse has lately been very clear as to why ETF products are significant, particularly to institutional investors. Appearing on the company’s podcast, Crypto in One Minute, he stated:
Wall Street and other institutional investors have struggled to directly access crypto markets.
He pointed out that ETFs now enable them to participate in the space by using regulated channels instead of exchanges or even personal wallets. Garlinghouse further referred to the rapidity with which Bitcoin-based ETFs achieved benchmarks of large assets.
The Bitcoin ETF was the fastest ever to hit $1 billion in assets,” he said. “It passed $10 billion faster than any other ETF.
He feels this trend will support further institutional demand, especially for XRP-related products.
In spite of the regulatory concerns raised by the SEC, the explosive growth in futures contracts and the surge in approval probabilities reflect a change in attitude. Traditional channels increasingly provide institutional investors with ways into the crypto space, and XRP has now become a contender in the broader market.
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