Summary
- "It was reported that an XRP spot exchange-traded fund (ETF) could be launched within 2 weeks."
- "It said that expectations for the ETF launch have risen as the U.S. Securities and Exchange Commission (SEC)'s lawsuit against Ripple has ended."
- "It reported that multiple asset managers, including Canary Capital and Grayscale, have submitted paperwork for an XRP spot ETF to the SEC."
A spot exchange-traded fund (ETF) for XRP may be launched within two weeks.
On the 3rd (Korean time), Nate Geraci, chairman of Novadious Wealth, said on X (formerly Twitter), "I expect the first XRP spot ETF to be launched within the next two weeks."
He added, "The U.S. Securities and Exchange Commission (SEC)'s lawsuit against Ripple lasted five years and was concluded three months ago," and "This ETF launch will be the final blow to regulators who were previously negative toward crypto assets. We have come a very long way."
Ripple was sued by the SEC in December 2020 on charges of selling unregistered securities, but this year a court ruling recognized only some institutional sales as securities. Afterwards, the SEC abandoned its appeal, effectively ending the lawsuit.
Currently, asset managers such as Canary Capital, Grayscale, Bitwise, 21Shares, and WisdomTree have XRP spot ETF paperwork pending with the SEC.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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