Bloomberg analysts raises the odds for XRP, ADA, and DOGE ETFs approval to 90%

If the ETF is approved, XRP would be bought and sold on traditional stock exchanges like any other security. Holders would not have to handle their crypto wallets directly. This makes it easier for small investors to enter and lets institutional capital come in without directly investing in crypto.

Analysts say approvals could arrive within weeks

The next few months could be very important for getting ready for what could be the biggest crypto event of the year. As for timing, analysts say approvals could arrive within weeks or closer to final deadlines later this year. Most applications have their final SEC decision dates in October and November.

However, earlier this week, the US SEC said it would take an extra 35 days to decide whether to accept or reject Franklin Templetons spot XRP filing. Instead, it opened a comment period for the ETF and proposed a spot Solana ETF from the same firm.

While theres still a delay in approving the spot XRP ETF in the US, the 3iQ XRP ETF was launched on the Toronto Stock Exchange on Wednesday. As reported by Cryptopolitan, XRPQ started without a management fee for the first six months.

This made it one of the most affordable digital asset exchange-traded funds (ETFs). It will only put money into long-term holdings of XRP bought from trustworthy over-the-counter (OTC) counterparties and digital asset trading sites.

Seyffart and Balchunas also assigned a 95% probability of approval to crypto basket or index ETF filings within the next six months by Grayscale, Hashdex, Bitwise, and Franklin Templeton. Several of these applications are approaching their final SEC deadlines in early July.