DeutschThe approval of XRP spot ETFs is imminent in the USA. Investors have been expecting the market launch of the investments for several months, which could lead to inflows in the billions. On Friday, a legal dispute between Ripple and the SEC ended. CoinPro explains why investors are now bullish.
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XRP-ETF: Approval is Imminent, Rush Begins
The approval of the long-awaited XRP spot ETFs is imminent in the USA – ETF expert James Seyffart reported on this. The expert noted last Friday that many asset managers had adjusted their existing ETF applications.
“A number of XRP ETF applications were updated today by the issuers. This is almost certainly due to feedback from the SEC. A good sign, but also largely expected”, Seyffart explained.
Before the approval of their ETFs, the applicants are usually in contact with the responsible supervisory authority SEC. In discussions, both parties ideally find a consensus on the details of the investments. As a result, adjustments are made – these can now be seen in the requested XRP ETFs.
Among the applicants are big names such as Grayscale, Bitwise or 21Shares. Wisdomtree, Franklin Templeton, Coinshares and Canary also adapted their applications to the latest agreements.
If so many applications are changed by their issuers at once, this speaks for the imminent publication. In order not to give a specific company a competitive advantage, the SEC usually releases similar contributions to the public at the same time.
Exchange-traded XRP funds could come onto the market at just the right time. Currently, there is a veritable mania among institutional investors in favor of cryptocurrencies. More and more companies are creating their own crypto reserves or investing in digital assets via regulated exchanges – especially in the United States of America.
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Official End in the SEC vs Ripple Legal Dispute Opens the Starting Signal
The fact that the SEC and US asset managers can’t wait for the publication of new crypto ETFs is becoming as obvious as never before. The massive application changes followed a court decision on Friday.
A New York court ended a court hearing on Friday. In December 2020, the SEC filed a lawsuit against Ripple for the sale of XRP. The proceedings dragged on until Friday without a final judgment ever being made.
In the course of the five years, the regulatory landscape in the USA has changed significantly. In Trump’s current second term as US President, the US authorities are providing crypto companies with new freedoms. Ripple, developer and publisher of XRP, benefits from this new approach. The SEC drops its former accusations. Judge Torres acknowledged on Friday that the conflicting parties had reached out-of-court solutions.
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For XRP, the end of the legal dispute is considered an extremely bullish event. Only through the termination of the proceedings is it possible for XRP to be mapped by exchange-traded funds.
Ripple also hopes for the increasing use of XRPs, as regulatory barriers have now been overcome. XRP is the third largest cryptocurrency after Bitcoin and Ethereum and can therefore expect inflows in the billions due to the establishment of the ETFs.
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