ETF Approval Odds Increase by 13% 

Prediction market platform Polymarket reports a sharp rise in expectations for XRP spot ETF approval. This week, the approval odds jumped from 70% to 83% in just a few days. Interestingly, this surge occurred despite the SEC delaying some XRP ETF applications. 

Bitwise, CoinShares, Franklin Templeton, and Grayscale are among the asset managers whose applications are under SEC review. Analysts note that such delays are expected. Decisions are anticipated in October. The ETF community states that such postponements are normal during the review process. Back in May, the SEC also postponed several other crypto ETF proposals besides Ripple’s. 

Ripple CEO Brad Garlinghouse shared key insights on XRP ETFs in the latest episode of the “Crypto in One Minute” podcast. He described ETFs as tools that make crypto investment more accessible to institutional investors. 

Garlinghouse said: 

“Wall Street and other institutional investors have had difficulty accessing crypto markets directly. With ETFs, they can now invest through regulated financial products instead of relying on crypto exchanges or self-custody wallets.” 

He also pointed out the rapid growth of Bitcoin ETFs: 

“Bitcoin ETF became the fastest ETF to reach $1 billion in assets. It surpassed $10 billion faster than any other ETF.” 

Garlinghouse expects continued institutional interest that will encourage the launch of more products, including Ripple-linked ETFs. 

XRP Futures ETFs: New Market Entrants 

Despite delays in spot ETF decisions, major developments are happening in the market. Volatility Shares launched the first XRP futures ETF on Nasdaq under the ticker XRPI. This came shortly after CME Group introduced an XRP futures product on May 19. 

These futures provide investors with regulated access to contracts based on XRP’s future price. Similar products already existed for Bitcoin and Ethereum. Tectrium also introduced a leveraged product named the 2x Long Daily XRP ETF. 

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The post XRP ETF Approval Rises to 83%: Polymarket Data  appeared first on Coin Engineer.