Key Notes
Despite the drop in XRP ETF approval odds, XRP price remains stable around $3.05.
Speculation continues around a potential BlackRock XRP ETF, and Ripple partner SBI Holdings has filed for a Bitcoin-XRP dual ETF in Japan.
All 13 recent internal SEC votes on crypto ETPs passed with a 3-1 margin, with Crenshaw as the sole dissenting vote.
The odds of spot XRP ETF approval have tanked more than 9% to 62% soon after Caroline Crenshaw, the Commissioner of U.S. Securities and Exchange Commission (SEC), said that she remains opposed to crypto ETFs.
However, the XRP price is showing strength, as bulls continue to hold it at $3.05 levels.
XRP ETF Approval Chances Drop to 62%
As per the Polymarket data, the odds of approval for XRP ETFs stood at 86% on August 5. In the last two days, however, this number has tanked to 62% as of now.
XRP ETF approval Odds | Source: Polymarket
Last week, Bloomberg ETF strategist Eric Balchunas stated that the odds of approval in September-October have gone up.
The optimism stems from XRP now meeting the SEC’s updated listing criteria, which require tokens to have had derivative trading activity for a minimum of six months.
Speculation is building that a BlackRock XRP ETF could be in development. Nate Geraci, President of the ETF Store, stated that the world’s largest asset manager could soon make a move in this direction.
In the latest development, Ripple partner SBI Holdings filed for a dual ETF, involving Bitcoin and XRP, in the Japanese market.
This shows that the demand for XRP ETFs is already rising in the overseas markets as well.
SEC Commissioner Votes Against Crypto ETFs
On August 6, the U.S. Securities and Exchange Commission (SEC) conducted 13 internal votes related to various crypto exchange-traded products (ETPs), including IBIT, BITB, GBTC, Bitwise’s Bitcoin and Ethereum funds, and in-kind redemption mechanisms.
All votes passed with a 3-1 margin, with Commissioner Caroline Crenshaw alone emerging objecting to it.
Crenshaw, currently the only Democrat on the Commission, has consistently opposed the growing approval of crypto ETFs.
Related article: XRP Price Could See 70% Upside to New All-Time Highs Soon
According to journalist Eleanor Terrett, her repeated objections send a strong signal of her firm opposition to crypto ETPs, particularly any potential developments involving an XRP ETF.
Lone Democrat @SECGov commissioner Caroline Crenshaw is sending a clear message: she remains firmly opposed to crypto ETFs. https://t.co/NT4gCLH2k9
— Eleanor Terrett (@EleanorTerrett) August 7, 2025
The SEC recently approved in-kind creation and redemption processes for both Bitcoin and Ethereum ETFs.
On the other hand, Crenshaw’s objections also extend to broader crypto policy, including recent SEC guidance on liquid staking.
She describes it as legally weak and disconnected from real-world applications.
