{"id":46578,"date":"2025-02-21T12:00:57","date_gmt":"2025-02-21T12:00:57","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=46578"},"modified":"2025-02-21T12:00:57","modified_gmt":"2025-02-21T12:00:57","slug":"us-ripple-xrp-etf-approval-seems-closer-after-this-development-details","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=46578","title":{"rendered":"US Ripple (XRP) ETF Approval Seems Closer After This Development: Details"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Grayscale, Bitwise, and 21Shares are vying for the first spot in the US XRP ETF, and the SEC review is underway. Approval odds for 2025 are at 81%, fueling optimism in the Ripple community.<\/p>\n

Brazil\u2019s securities regulator recently greenlighted such a product, causing an upswing in the price of the underlying asset.<\/p>\n

<\/a><\/span><\/h2>\n

The Odds are Rising<\/h2>\n

Over the past few months, <\/span>there has been an influx of companies<\/span> trying to launch the first spot XRP exchange-traded fund (ETF) in the United States.<\/span> Some of the well-known names include Grayscale, Bitwise, and 21Shares. It is important to note that the US Securities and Exchange Commission (SEC) officially acknowledged<\/a> their applications.\u00a0<\/span><\/p>\n

Most recently,<\/span> Grayscale\u2019s filing was <\/span>posted<\/span><\/a> to the Federal Register. <\/span>This means that the<\/span> SEC has until October 18 to approve or reject the move.<\/span>\u00a0<\/span><\/p>\n

The latest development caused <\/span>huge<\/span> enthusiasm across the XRP community, with many members believing the launch of the investment vehicle is now just a matter of time. It is important to note that Ripple\u2019s CEO also shares that thesis, <\/span>asserting<\/span><\/a> multiple times that an XRP ETF is \u201cinevitable.\u201d<\/span><\/p>\n

The product\u2019s chances of receiving approval in the US before the end of 2025 have <\/span>risen<\/span><\/a> to 81% (according to Polymarket). Meanwhile, the odds for this to happen by July 31 remain around 45%.\u00a0<\/span><\/p>\n

Brazil Was First<\/span><\/h2>\n

And while on<\/span> eyes are on the US SEC, Brazil\u2019s securities regulator<\/span> \u2013 <\/span>the Comiss\u00e3o de Valores Mobili\u00e1rios<\/span> \u2013 <\/span>recently<\/span> approved\u00a0<\/span><\/a>the world\u2019s first spot XRP exchange-traded fund (ETF).<\/span>\u00a0<\/span>This<\/span> pushed the underlying asset\u2019s price to almost $2.75 before retracing at the current $2.67 (per CoinGecko\u2019s data).<\/span><\/p>\n

However, the potential launch of such a product in America would likely have a <\/span>bigger<\/span> impact than the green light in Brazil or any other country. After all, the US is the largest and most influential financial market globally.<\/span><\/p>\n

The launch of<\/span> a spot XRP ETF in the nation would introduce the token to a vast pool of institutional and retail investors and could <\/span>serve as a catalyst for<\/span> worldwide adoption.<\/span><\/p>\n

It could also be <\/span>interpreted as<\/span> a possible game-changer for the entire crypto industry since it will show a positive stance from the SEC, which recently enforced <\/span>important<\/span> changes in its leadership.<\/span><\/p>\n

Its Chairman, Gary Gensler, <\/span>vacated<\/span><\/a> his post on January 20 and was succeeded by the pro-crypto Mark Uyeda. A few weeks later, one of the agency\u2019s top crypto litigators \u2013 Jorge Tenreiro \u2013 was <\/span>moved<\/span><\/a> to the IT department.\u00a0<\/span><\/p>\n

The post US Ripple (XRP) ETF Approval Seems Closer After This Development: Details<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Grayscale, Bitwise, and 21Shares are vying for the first spot in the US XRP ETF, and the SEC review is underway. Approval odds for 2025 are at 81%, fueling optimism in the Ripple community. Brazil\u2019s securities regulator recently greenlighted such a product, causing an upswing in the price of the underlying asset. The Odds […]<\/p>\n","protected":false},"author":0,"featured_media":46579,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-46578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/46578"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46578"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/46578\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/46579"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}