Heres Predicted Timeline for SEC to Approve Multiple XRP ETFs
Popular software engineer Vincent Van Code predicts that the U.S. SEC will likely approve multiple spot-based XRP ETFs in May 2025. The expert made the bold prediction yesterday shortly after the securities regulator postponed its decision on Grayscale, Canary, and 21Shares spot XRP ETF filings. The SEC extended the deadline, prompting investors to focus on the next approval date for other related filings. https://twitter.com/thecryptobasic/status/1899682728812974428Expert Sets May 22 As Possible Date For Multiple XRP ETF ApprovalsMeanwhile, Vincent projects that the SEC will approve multiple XRP ETF applications on May 22, 2025. This date coincides with when the SEC will decide whether to approve or deny the launch of 21Shares XRP ETF. The SECs decision on other XRP ETF filings, including those from Grayscale and Bitwise, falls within the May deadline. Specifically, the SEC must decide on Grayscales request to convert its XRP Trust to a spot ETF by May 21. Its decision on Bitwise XRP ETF must come on or before May 25. Consequently, Vincent identified May 22 as the possible date the SEC will likely approve multiple XRP ETF applications.Potential Impact of XRP ETFs He emphasized that even though the approvals may not immediately impact XRPs price, they could validate the coin as a legitimate digital asset. In his view, this legitimacy will position XRP as a suitable asset for investors seeking a regulated and liquid cryptocurrency. Additionally, Vincent suggests that the approval will enable traditional investors with little or no knowledge about creating wallets and AML/KYC requirements to buy XRP using their existing shares trading accounts. Notably, people who invest in the prospective XRP ETFs are not directly buying XRP. Instead, they are simply acquiring shares of the fund, giving them indirect exposure to XRPs price action. Meanwhile, the expert predicted that the ETF volumes will significantly impact the price of XRP over the next 12 months from the approval date. Nonetheless, he expects a short-term pump for XRP in reaction to the approval news. Will the SEC Approve XRP ETFs in May? Whether the SEC will approve at least one XRP ETF on May 22 remains to be seen. In the meantime, some argue that the ongoing lawsuit between the SEC and Ripple could challenge the potential approval of XRP ETFs. Meanwhile, legal experts have stressed that XRP ETF approval is independent of Ripple's lawsuit outcome. Moreover, the SEC is shifting its crypto policies, prompting the termination and freezing of legal actions against crypto-related businesses. While it has not yet decided on the Ripple case due to a court ruling, Attorney Jeremy Hogan expects a resolution to occur by April/May 2025. Hogans projected deadline aligns with the timeline Vincent expects the SEC to approve multiple XRP ETFs.
Text source: The Crypto Basic
