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XRP ETF Incoming? Analyst Says Ripple’s Legal Win Changes Everything
In a major shift in the crypto landscape, Ripple’s legal victory over the Securities and Exchange Commission (SEC) has opened the door for an XRP exchange-traded fund (ETF) in the United States. This breakthrough has significant implications for institutional investors, who were previously hesitant to enter the market due to regulatory uncertainty.
The SEC had alleged that Ripple conducted unregistered securities sales using its XRP token back in 2020. However, a landmark ruling by Judge Analisa Torres in 2023 declared that Ripple’s programmatic sales of XRP did not violate securities laws. Although she deemed institutional sales to be against the law, Ripple was hit with a $125 million fine and required to refund $75 million.
Following months of legal wrangling, the SEC dropped its appeal, while Ripple relinquished its complaint and agreed to pay the reduced $50 million fine. This development is seen as a crucial step forward for XRP ETFs in the US market.
ETF expert Nate Geraci has come out in support of an imminent XRP ETF approval, stating that major financial institutions like BlackRock and Fidelity will likely apply for products tracking Ripple’s native token now that regulatory uncertainty has been resolved.
Source: https://cryptopotato.com/xrp-etf-incoming-analyst-says-ripples-legal-win-changes-everything/
