What is the probability percentage of Ripple (XRP) Spot ETF being approved this year? Here are the current rates.

According to the Crypto prediction platform Polymarket, the probability of a spot exchange traded fund being approved for Ripple (XRP) this year has reached %83.

This data is based on the latest predictions available on the platform's official website.

This optimistic expectation came after the U.S. Securities and Exchange Commission officially began reviewing the spot XRP ETF application named WisdomTree XRP Trust, with the identifier (SEC). The application submitted by Cboe BZX Exchange holds the distinction of being the first official review of a spot XRP ETF in the U.S. If the application is approved, the first spot XRP ETF in the U.S. will be launched, which could pave the way for similar products for other crypto assets.

The planned ETF will provide investors with access to XRP through traditional brokerage accounts, tracking the market price of XRP via the CME CF Ripple-Dollar Reference Rate, without the need for complex operations such as private keys or self-custody.

The SEC has initiated the evaluation process for the application under Official Announcement No. 34-103124. The Commission has up to 240 days to approve or deny the application.