Bloomberg Analysts Suggest Continued Confidence in XRP ETF Approval Despite Recent Criticism from SEC Commissioner Crenshaw
Main Idea
Bloomberg analysts remain highly confident (95%) in the approval of an XRP ETF despite a recent drop in approval odds to 66% following SEC Commissioner Crenshaw's dissent.
Key Points
1. The odds of SEC approving an XRP ETF dropped to 66% after SEC Commissioner Caroline Crenshaw voted against 13 crypto ETF initiatives.
2. Bloomberg analysts, including Eric Balchunas, maintain a 95% forecast for XRP ETF approval, dismissing Crenshaw's dissent as insignificant due to her consistent opposition and being outnumbered.
3. Crenshaw has consistently opposed all crypto-related ETF proposals, including spot Bitcoin ETFs, but her stance is unlikely to influence the SEC's overall decision-making process.
4. Market sentiment and majority support among SEC commissioners are key factors influencing Bloomberg's high confidence in XRP ETF approval.
5. The SEC's overall stance on XRP ETF approval remains uncertain, with no official response yet regarding Crenshaw's dissenting position.
Description
The odds of the SEC approving an XRP ETF have dropped to 66%, but Bloomberg analysts maintain a 95% forecast, viewing the dissent of a single SEC commissioner as insignificant.
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