The U.S. Securities and Exchange Commission has officially advanced its review of the WisdomTree XRP Fund application submitted by the Cboe BZX Exchange. This marks a key step toward launching what could become the first spot XRP exchange-traded fund in the country.
According to SEC release number 34-103124, the proposal is now under formal evaluation as outlined in Section 19(b)(2)(B) of the Securities Exchange Act. The agency is considering whether the fund complies with investor protection, stability in the market, and rules from regulators.
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Designed to reflect the real-time market value of XRP, the fund will track the CME CF Ripple-Dollar Reference Rate (New York Variant). Its assets will consist exclusively of XRP, cash, and cash equivalents.
Once approved, the ETF would allow people to purchase XRP from regular brokerage accounts. There would be no need to store digital wallets or watch over private keys anymore.
Furthermore, the Commission is asking for people’s opinions on whether the design of the fund helps prevent fraud and provides transparency. A review does not promise approval and is simply a required process for considering crypto-related ETFs.
XRP ETF Betting Market Surges Following SEC Review Launch
Following this regulatory development, market expectations for the ETF’s approval have surged. According to data shared by @ImCryptOpus, prediction platform Polymarket now shows an 84% chance of XRP ETF approval before the end of 2025.
This figure marks a 21% increase over the past month, driven by rising confidence in the SEC’s willingness to engage with the application. As of May 28, 2025, the total amount placed on this likelihood equaled $75,504, showing a lot of trader attention.
There is now a better chance that the WisdomTree XRP Fund will receive approval from regulators. This would make it one of the inaugural XRP ETFs available to U.S. investors on platforms like Robinhood.
Market participants are closely tracking the review, as it could soon determine how similar digital asset funds are reviewed by regulators. If it succeeds, it could open up a new path for institutional investors regarding XRP exposure.
Investor optimism has surged following the SEC’s formal review of the WisdomTree XRP Fund, pushing Polymarket approval odds to 84%. As the agency collects feedback and analyzes the fund’s setup, investors are anticipating the result that could affect Ripple in those areas.
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