Polymarket data now puts the odds of full XRP ETF approval at 86% after the successful launch of ProShares Ultra XRP ETF. This confidence surge indicates increased investor enthusiasm along with regulatory progress concerning XRP financial tools.
The ProShares launch is perceived as a pivotal milestone towards mainstream acceptance, increasing trust from public and regulatory stakeholders alike.
Analysts believe expectations are being fueled by growing institutional participation alongside shift in market sentiment. If granted, full XRP ETF would be a watershed moment not just for Ripple but for the entire crypto space, potentially enabling additional inflow of capital.
XRP ETF Approval Odds Jump to 86%
The odds of an XRP ETF approval now stand higher than 86% according to Polymarket, a leap of 15% in just 24 hours, after the debut of ProShares Ultra XRP ETF (UXRP) on NYSE Arca. UXRP launched on July 18 priced at $50.84, reached a peak of $57.86 during the day and closed up 6.10%. The interest in Ripple’s growth and institutional adoption serves to underpin the 2x leveraged offering.
Analysts indicate the robust opening RXR ETFs point to significant market appetite. Although UXRP is based on futures, ProShares Plans a conversion to spot ETF, following the paths taken with Bitcoin and Ethereum ETFs during the changing regulatory landscape.
The Forces Pushing XRP Closer to ETF Approval
Several outside elements now heighten the likelihood of XRP ETF approval. Particularly notable is the recent passing of significant crypto laws in the U.S., like the GENIUS Act. This bill was approved by the House after extensive negotiations. It seeks to define guidelines for stablecoins and bolster the regulatory architecture for digital assets. This helps in building a more conducive environment for approving ETFs.
Sentiment also bolstered positively when SEC Commissioner Hester Peirce calmed fears regarding spot ETF rejections a few days ago. This was after the SEC had postponed several rulings on crypto ETFs. Her remarks provided assurance that as long as issuers meet compliance standards, the SEC is amenable to new products.
Under the new, clearer guidelines, renewed legislative support, and demonstrated demand – as evidenced on the first day of trading – the discourse has transformed from “if” to “when” the full spot approval for XRP ETF is expected.
