Summary
- Ripple announced the withdrawal of its cross-appeal against the SEC.
- It was stated that, as a result, the likelihood of launching an XRP spot ETF has increased.
- President Nate Geraci also shared that BlackRock's entry is expected to become possible.
On this day, Ripple withdrew its cross-appeal against the Securities and Exchange Commission (SEC). As a result, there are opinions that the possibility of a spot Exchange-Traded Fund (ETF) based on XRP, a cryptocurrency, has increased.
On the 27th (local time), Nate Geraci, President of The ETF Store, stated on X (formerly Twitter), "The legal dispute between Ripple and the SEC has ended," and added, "The path toward an XRP spot ETF has opened." He further noted, "It is also anticipated that BlackRock's entry will become possible."
Geraci's remarks were made after Ripple announced the withdrawal of its cross-appeal against the SEC. At around 6 a.m. that day, Brad Garlinghouse, Ripple's Chief Executive Officer (CEO), stated, "(We) will withdraw the cross-appeal in the lawsuit with the SEC," and added, "As previously mentioned, it is expected that the SEC will also withdraw its appeal."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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