Ah, the XRP lawsuit! A tale as old as time, or at least as old as your grandmother’s favorite knitting project. Investors, with their eyes wide open and wallets at the ready, have been speculating like a pack of hungry wolves on the potential impact of this legal drama on the XRP ETF approval. But lo and behold! A top lawyer, with the wisdom of a thousand legal tomes, has emerged from the shadows to clear the fog of confusion. Spoiler alert: the Ripple Vs SEC case is unlikely to rain on the ETF parade! 🌧️
Meanwhile, in a plot twist worthy of a Dostoevsky novel, Nasdaq has decided to strut its stuff by moving forward with listing applications for XRP and Litecoin ETFs. This is a clear signal that optimism is bubbling in the crypto cauldron! 🧙♂️ Here’s how these developments are intertwined like a pair of mismatched socks and what we can expect next.
XRP Lawsuit Is Unlikely To Impact ETF Approval Process
In a recent episode of “As the XRP Turns,” a legal sage weighed in on the ongoing saga of the XRP lawsuit and its supposed impact on the ETF approval process. Picture this: an XRP enthusiast, fueled by caffeine and curiosity, posed a question to the pro-XRP lawyer Jeremy Hogan on X. The burning question? Will the SEC approve an ETF while the legal battle rages on like a soap opera cliffhanger?
Hogan, with the confidence of a cat that just knocked over a vase, declared that a settlement in the Ripple SEC case is likely to occur before the ETF approval. But hold your horses! He emphasized that these two events are not joined at the hip, as ETFs usually take longer than a snail on a leisurely stroll due to the labyrinthine regulatory processes. 🐌
Another brave soul chimed in, pointing out that the first ETF application was filed on October 24, and asked if approvals typically take four to six months. Hogan, ever the realist, acknowledged the timeline but added that the approval process is like a never-ending buffet, with S-1 filings and other steps that could stretch the timeline to eight to twelve months. 🍽️
US SEC No Longer A Barrier To XRP ETF Approval
As the XRP lawsuit drags on like a bad movie sequel, it has now become fixated on specific sales of XRP by Ripple on exchanges. Pro-XRP lawyer Jeremy Hogan confirmed that nothing in this legal drama stands in the way of an XRP ETF gaining approval. He noted that the most significant legal question of whether XRP itself is a security has already been addressed, much to the relief of investors everywhere. 🎉
This means the US SEC could approve an ETF despite the ongoing Ripple Vs SEC lawsuit. In a shocking twist, the agency has previously approved such investment instruments for assets under legal scrutiny, proving that there’s no legal barrier to an ETF proceeding now. Who knew the SEC could be so flexible? 🤷♂️
Optimism Soars Despite Ongoing XRP Lawsuit
Despite the XRP lawsuit’s slow march under the watchful eye of ex-SEC Chair Gary Gensler, which initially dampened market sentiment like a rain cloud over a picnic, recent developments have sparked a wildfire of optimism. A flurry of players have filed for XRP ETF approval, indicating that institutions and investors are feeling more confident than a cat in a sunbeam. ☀️
For context, Nasdaq recently submitted a 19b-4 form with the US SEC, proposing the listing of CoinShares XRP and Litecoin ETFs. According to the filing, Nasdaq intends to list the ETFs under its Commodity-Based Trust Shares rule. Sounds fancy, doesn’t it? 🏛️
Meanwhile, this follows CoinShares’ submission of an S-1 form, a necessary step before launching the ETFs. These filings indicate a growing institutional interest in crypto ETFs, which has also triggered a broader altcoin rally recently. It’s like a party, and everyone’s invited! 🎊
Furthermore, recent reports suggest that Ripple CEO Brad Garlinghouse may join Trump’s crypto council board. If this happens, it could further bolster Ripple’s position in the market, or at least provide some entertaining headlines! 📰
Is XRP ETF Approval Imminent In 2025?
Bloomberg analysts James Seyffart and Eric Balchunas have weighed in on the likelihood of XRP ETF approval. According to their estimates, there is
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2025-02-11 12:39