The article discusses the approval odds of spot ETFs for various cryptocurrencies, highlighting the challenges faced by Ripple's XRP due to its classification as a security by the SEC. It compares XRP's odds with other altcoins like Litecoin (LTC) and Dogecoin (DOGE), which have a higher likelihood of securing ETF approval.
The odds of a spot exchange-traded fund (ETF) for Ripple's XRP cryptocurrency being approved by the U.S. Securities and Exchange Commission (SEC) are currently considered the lowest among major altcoins that have already submitted ETF proposals. This low probability stems from the SEC's current stance on XRP, classifying it as a security rather than a commodity. This distinction significantly hinders XRP's chances compared to other altcoins.
For instance, Litecoin (LTC) boasts the highest approval odds at 90%, largely because it lacks any regulatory baggage. Bloomberg reports that the SEC likely views LTC as a commodity. Dogecoin (DOGE) is also seen as more likely to secure a spot ETF approval in the U.S. this year compared to XRP and Solana (SOL). According to Polymarket, a leading betting platform, XRP ETFs currently have an 81% chance of approval this year. Ripple CEO Brad Garlinghouse previously expressed confidence that an XRP-based ETF approval is 'just inevitable.'Solana (SOL), while also classified as an unregistered security by the SEC in lawsuits against Binance and Coinbase, might have a higher approval probability than XRP. This is because the SEC has already acknowledged Grayscale's Solana ETF proposal. In contrast, a spot Solana ETF has a 70% chance of approval, indicating a more favorable outlook compared to XRP.
XRP ETF SEC Cryptocurrency Altcoins Litecoin Dogecoin Solana
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