- SEC delays XRP ETF again, traders eye October’s final decision.
- ProShares leveraged XRP and Solana ETFs already secured July approval.
- Market odds shift as XRP price reacts to regulatory uncertainty.
The U.S. Securities and Exchange Commission has delayed decisions on XRP exchange-traded fund proposals from 21Shares and CoinShares. The two filings, which were made in November and January, were recognized in February, and the deadline for a final decision was set.
According to the existing regulations, the SEC is required to make decisions within 240 days of the acknowledgement. This implies that October is the month in which approval or denial will be made. The recent stall is considered a procedural act and not a sign of rejection.
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Traders Prepare for October’s Verdict
According to Bloomberg analysts, the probability of approval remains high, with expectations reaching 95 percent. Polymarket bettors are more conservative, giving odds of 78 percent.
Trader confidence has changed in the last few months. In June, market odds reached 98 percent, declined to 65 percent early in August, and have since recovered. This swing reflects ongoing uncertainty surrounding the SEC’s ultimate decision.
Institutional Players Hold Their Ground
Speculation that BlackRock would pursue an XRP ETF ended when the firm confirmed it will not compete in this market. Franklin Templeton has become the most high-profile applicant. Fidelity, though moving ahead with a Solana ETF, has also decided not to file for XRP.
In the meantime, Democratic Commissioner Caroline Crenshaw is vocal about her disapproval of crypto products. In spite of this criticism, there is still hope that October will be the month of the long-awaited approval.
ProShares ETFs Secured Approval in July
In July, NYSE Arca approved the listing of two new leveraged ETFs from ProShares, the Ultra XRP ETF and the Ultra Solana ETF. This marked a significant step in expanding access to cryptocurrency-linked financial products.
The Ultra XRP ETF provides investors with twice the daily return of XRP performance, but ProShares warned of the risks of volatility and regulatory pressure. Meanwhile, the Ultra Solana ETF offers leveraged exposure to Solana, which is still drawing investors who are interested in alternatives to Ethereum and Bitcoin.
XRP Price Tracks Regulatory Sentiment
XRP is trading at $3.02 after recording a 3 percent daily decline. In the last seven days, the XRP has dropped by 6 percent, dipping below the $3 mark at some point amid a marketwise slump.
The price has since rebounded above the threshold; however, the mood is still dependent on the SEC’s decision. October has become the month traders are keeping an eye on to see whether XRP ETFs will ever make it into the market.
The recent delay by the SEC has increased expectations for the October deadline. Traders and analysts remain split, with optimism tempered by cautious betting markets. Until the final verdict, XRP’s price is likely to reflect the uncertainty of this high-stakes decision.
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