XRP ETF Approval Chances Hit 98%, Will US SEC Delays Stop?

The launch of XRP futures on May 19 by CME Group has heightened optimism, with experts suggesting it could improve the likelihood of SEC approval for a spot XRP ETF.

Bloomberg ETF analyst James Seyffart has projected a potential timeline for SEC decisions on cryptocurrency ETFs. Seyffart indicated that while early approvals might emerge by late June or early July, the more likely timeframe for final decisions is in early Q4, with October 18 being a key date to watch

Notably, XRP currently holds the lead among altcoins with the highest number of ETF filings.

Ripple Lawyers Clarifies About XRP Legal Clarity

The Bitcoin community and the XRP community have been at a crossroads recently, with the former questioning the clarity of XRP‘s legal status, whether it’s either a security or a commodity. This is despite the fact that Judge Torress gave a landmark decision in the Ripple-SEC lawsuit stating that retail sales of the altcoin dont constitute investment contracts.

Ripple lawyer Bill Morgan argued that assuming something unclassified lacks legal clarity is a “logical misstep.” He pointed out that the concept of “classification” remains undefined, while calling arguments from the Bitcoin community baseless.

Morgan emphasized that the court‘s decision provides ample legal clarity regarding XRP. He highlighted Judge Torres’ conclusion that XRP is not a security. “If we do not know exactly what XRP is, we certainly have the legal clarity of what it is not: it is not a security,” said Morgan.

XRP price is showing a healthy uptick of 2.64% today, moving to $2.25, with trading volumes firm at $2.5 billion.