The U.S. Securities and Exchange Commission acknowledged Bitwise's spot XRP ETF filing earlier this Tuesday.
As reported by U.Today, Bitwise initially filed an application to launch the product back in early October, giving the token a major boost.
Last week, the regulatory agency also acknowledged the XRP ETF filings that were submitted by Grayscale and 21Shares. This was interpreted as a significant message given that the SEC has been engaged in a relentless legal fight with Ripple over the past few years.
Alex DovbnyaEven though these acknowledgments do not necessarily mean that an XRP ETF will certainly be approved by the SEC, they bode very well for such a product.
The odds of an ETF being approved in 2025 have now jumped to nearly 80% on popular crypto-focused betting website Polymarket.
Not everyone is happy about the growing prospects of the SEC eventually greenlighting such a product. As reported by U.Today, prominent angel investor Jason Calacanis recently predicted that the approval of a spot XRP would lead to "chaos," arguing that the token is a "centralized" security.
Dan Burgin
Vladislav Sopov