The XRP ETF Saga: Will the SEC Finally Make Up Its Mind?

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Ah, the SEC, always keeping us on the edge of our seats, like a tense Soviet drama. According to the ever-optimistic Eric Balchunas from Bloomberg, we might finally get a glimmer of hope with the green light for several altcoin ETFs—including XRP—perhaps as soon as September or October. It’s a cliffhanger, and we’re all stuck in suspense! 🍿

Why all the sudden optimism, you ask? Well, it seems the SEC has decided to grant a little mercy on the crypto world. A recent filing introduced a shiny new streamlined framework for listing crypto exchange-traded products. Now, any digital asset that’s been on a good behavior streak—trading on platforms like Coinbase’s derivatives exchange for at least six months—might be eligible for ETF consideration. Goodbye to crypto’s wild adolescence, hello to potential maturity. XRP, Solana, and Dogecoin (yep, that Dogecoin) all meet the new criteria. The SEC, perhaps in a moment of rare compassion, has decided to be a little less picky. 😏

The plot thickens: the SEC has also approved in-kind creation and redemption mechanisms for crypto ETPs. This means ETF shares could be backed by actual assets instead of the dreaded cash. Oh, and guess what? This makes crypto ETFs almost like the classy, well-behaved cousin of traditional commodity-backed funds. Gold, step aside, XRP’s got your back. 💰

Legal minds, such as the ever-hopeful Bill Morgan, claim that this change drastically shortens the approval process and cuts operational costs, making the SEC’s approval seem almost inevitable. Or, at least, more likely than ever before. It’s like the SEC has finally found a cheat code to unlock the approval path. 🕹️

In the meantime, several XRP ETF applications—Bitwise and Franklin Templeton among them—are just waiting in the wings, like over-enthusiastic actors ready for their big scene. Of course, the SEC delayed Franklin’s proposal until late 2025, but there’s something in the air… the tide is shifting, my friends. Balchunas, with his usual air of prophecy, says the approval probability is around 85%, and the folks over at Polymarket seem to agree, with their odds hovering at 86%. All that’s missing is a ticker tape parade. 🎉

But, as always, there are still lingering shadows of legal uncertainty. The Ripple vs. SEC drama continues to drag on, with some even daring to predict that both parties might just settle before the August 15 court update. Could it be? Are we about to witness the greatest plot twist of all? 🤔

If all goes according to plan (because when does anything go wrong with crypto?), the XRP ETF might just get its final approval in October. And let’s be real: once the XRP ship sails, a whole fleet of altcoin ETFs is likely to follow. It’s like waiting for the first domino to fall. Get your popcorn ready! 🍿

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2025-07-31 12:09