SEC vs. Ripple and XRP-Spot ETF Prospects
A full approval and launch of an ETH-spot ETF could pave the way to an XRP-spot ETF market. SEC Chair Gary Gensler publicly labeled ETH as a security after the Merge. In July 2023, the US courts ruled that programmatic sales of XRP do not satisfy the third prong of the Howey Test.
Filings for XRP-spot ETFs could hinge on SEC plans to appeal against the Programmatic Sales of XRP ruling. The ongoing SEC vs. Ripple case is in its final stages. The parties await a court ruling on omnibus sealing…
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