The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) continues to draw attention in the cryptocurrency market. Recent developments include both parties requesting to hold their appeals.
Current Status of the Legal Dispute
Ripple is still attempting to reduce its $125 million penalty to $50 million and lift a court-imposed ban. The judge has not approved this yet, and the case is paused until the court's next decision, expected by August 15, 2025.
Impact on XRP ETFs in the U.S.
XRP investors are also awaiting news on XRP spot ETFs in the U.S., including Franklin Templeton's XRP Fund, which has a key deadline on June 17, 2025. However, the ongoing lawsuit is likely to delay SEC's decisions on this. ETF expert Nate Geraci recently predicted that BlackRock could soon file for Solana and XRP spot ETFs once the Ripple case concludes.
Success of XRP in Canada
In positive news for XRP, Purpose Investments is launching its Purpose XRP ETF in Canada after receiving final approval from regulators. The ETF will start trading on the Toronto Stock Exchange on June 18, 2025, under the tickers: XRPP (CAD-hedged), XRPP.B (CAD), and XRPP.U (USD). This fund will offer direct exposure to spot XRP and will be available for registered accounts.
In conclusion, the ongoing legal disputes between Ripple and the SEC significantly impact the XRP market and ETF plans in the U.S., while positive developments are seen in Canada.
