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- 🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
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Ripple closed the process with the SEC: "BlackRock and major players may step in for the XRP ETF"
Ripple CEO Brad Garlinghouse announced that they have withdrawn their counter-appeal in the long-running SEC vs. XRP case. With this step, the legal process has come to a complete end. Now all eyes are on the final decision that the U.S. Securities and Exchange Commission will make regarding the (SEC) XRP spot ETF application.
Garlinghouse stated in a social media announcement that they, as Ripple, have withdrawn their counter-appeal and expect the SEC to withdraw its own appeal as well. "We are completely closing this process and the most important thing is that we are focusing on building the value of the internet. Get ready," he said.
It is worth reminding that the federal court had rejected Ripple's request to reduce the fine imposed on it to 50 million dollars. However, these developments are opening new doors for the future of XRP.
Especially, the general manager of the asset management company The ETF Store, Nate Geraci, stated that Ripple's step will accelerate the approval process for the spot XRP ETF and facilitate the entry of major players like BlackRock into the market.
The SEC is expected to make its final decision on the XRP spot ETF applications in the last quarter of the year. So far, companies such as Grayscale, Bitwise, Canary, 21Shares, WisdomTree, CoinShares, and Franklin have applied. BlackRock, which has spot ETF approvals for Bitcoin and Ethereum, has not yet taken any official steps regarding XRP.
According to Bloomberg analysts, the likelihood of XRP ETF approval within 2025 is around 95%.
In summary, the legal process between Ripple and the SEC is closing, and significant opportunities are emerging for XRP to be listed as a spot ETF on exchanges. With giants like BlackRock entering this market, important developments for XRP may occur in the coming period.
#btc# #eth# #xrp# #h# #sol#