XRP has taken a commanding lead in the race for crypto-based exchange-traded funds (ETFs), with Bloomberg analysts now giving it a 95% chance of approval by 2025. The surge in confidence comes as regulatory clarity improves and major financial institutions step up support for the digital asset.

According to analysts James Seyffart and Eric Balchunas, XRP’s ETF prospects have sharply risen due to key developments involving the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The increase from previous estimates—once hovering near 75%—signals a shift in the way regulators and institutions are viewing XRP’s role in the evolving crypto landscape.

This new projection puts XRP ahead of other top contenders like Solana, Litecoin, and Cardano, reinforcing its growing position in the digital asset market.

Regulatory Progress Strengthens XRP’s Case

One of the most important reasons behind the higher ETF approval odds is the improved interaction between ETF applicants and the SEC. Seyffart and Balchunas point to the SEC’s active engagement with filings, which they interpret as a positive signal.

XRP’s spot ETF filing was submitted on January 30, 2025, with asset management giants such as Grayscale, Bitwise, and Franklin behind the effort. The SEC acknowledged receipt of the application and set a final decision deadline for October 17, 2025.

Analysts highlight the presence of CFTC-regulated XRP futures as another decisive factor. The existence of a regulated derivatives market gives XRP an edge, showing that a framework is already in place to handle investment products tied to the asset. This aligns with the structure used in other ETF approvals, such as those tied to Bitcoin.

In addition, XRP’s status as a commodity in recent regulatory interpretations adds weight to its case. Unlike other digital assets facing classification uncertainty, XRP’s recognition by both the SEC and CFTC as a commodity simplifies the legal landscape for an ETF to be approved.

XRP Surpasses Rivals in the ETF Approval Race

With odds now nearing certainty, XRP has taken the lead over other well-known cryptocurrencies. Bloomberg analysts also raised approval estimates for Solana, Litecoin, and Cardano to between 90% and 95%, but XRP remains slightly ahead in terms of market readiness.

Solana, in particular, has a final SEC deadline of October 10, 2025, and benefits from similar factors as XRP, including CFTC-regulated futures. However, XRP’s more mature infrastructure and earlier filing date give it an edge.

This movement among top altcoins is seen as part of a broader wave of institutional interest in crypto ETFs. The shift indicates that the market is preparing for a wider range of digital assets to become available through regulated investment vehicles.

Institutional Backing Adds to XRP’s Growing Momentum

The involvement of major financial firms in XRP’s ETF push cannot be understated. Grayscale and Bitwise are among the most recognized names in digital asset management, and their backing of XRP brings both legitimacy and experience to the table.

Franklin Templeton, another established asset manager, has also submitted filings related to XRP. Their presence reflects a growing demand from clients seeking regulated exposure to digital assets beyond Bitcoin and Ethereum.

Analyst Nate Geraci, known for tracking ETF developments, also believes that even more financial giants could enter the space. According to him, BlackRock is likely to file for XRP and Solana ETFs in the near future. If this happens, it could accelerate the timeline and further validate the asset in the eyes of both investors and regulators.

Global Context Supports U.S. Momentum

The optimism surrounding a U.S.-based XRP ETF is not happening in isolation. Canada has already approved multiple XRP ETFs, which have seen healthy inflows and stable trading activity. These international examples show that a regulated XRP ETF can function effectively in a real market setting.

Analysts suggest that the SEC is closely watching developments abroad, especially in jurisdictions that are experimenting with regulated crypto investment products. The success of these foreign ETFs may serve as additional support for approval in the United States.

The broader market trend also favors diversified ETF products. With investor appetite growing for structured exposure to digital assets, the inclusion of XRP would offer an alternative to the highly saturated Bitcoin ETF space.

Timeline: Approval Could Come Sooner Than Expected

While the final SEC decision is due in October, approval could arrive sooner. Seyffart and Balchunas note that with increasing pressure from institutions and market participants, regulators may opt to approve ETFs over the summer.

They emphasized that the main question now is no longer whether XRP will be approved, but when. This new phase of regulatory alignment puts XRP at the center of one of the most anticipated developments in the crypto market.

Not All Projects Are Ready

Although XRP and a few others are close to the finish line, not all digital assets share the same outlook. Projects like SUI and Tron still face significant hurdles. SUI currently lacks a regulated futures market, reducing its approval odds to just 60%. Meanwhile, Tron’s ETF filing won’t be reviewed until 2026, making it a longer-term candidate.

These examples highlight the importance of regulatory structure, institutional support, and clear asset classification. Assets without these characteristics will likely remain sidelined in the near term.

Conclusion: XRP ETF Edges Closer to Reality

XRP has reached a new milestone in its path to mainstream adoption. With ETF approval odds now at 95%, the asset is positioned to become one of the first non-Bitcoin, non-Ethereum cryptocurrencies to be included in U.S.-based ETFs.

Support from major financial players, regulatory progress, and existing futures infrastructure have all contributed to this shift. For investors, developers, and institutions, this is a major step forward in bridging traditional finance and blockchain technology.

As October approaches, all eyes will be on the SEC’s next moves. Whether the decision comes in summer or fall, one thing is clear—XRP is no longer on the sidelines of the crypto ETF conversation. It’s leading it.