The probability of a spot exchange-traded fund (ETF) for Ripple (XRP) being approved this year has reached 83%, according to cryptocurrency prediction platform Polymarket.
This data is based on the latest estimates on the platform's official website.
This optimistic outlook comes after the U.S. Securities and Exchange Commission (SEC) officially reviewed the application for a spot XRP ETF called WisdomTree XRP Trust. The application, submitted by Cboe BZX Exchange, is the first official spot XRP ETF review in the U.S. If approved, the application would mark the first spot XRP ETF in the U.S. and could pave the way for similar products for other crypto assets.
The planned ETF would track the market price of XRP via the CME CF Ripple-Dollar Reference Rate, giving investors access to XRP through traditional brokerage accounts without complex processes such as private keys or self-custody.
The SEC initiated its review of the application under Official Notice No. 34-103124. The Commission has up to 240 days to approve or reject the application.
*This is not investment advice.
