XRP ETF Filings Submitted to SEC Following Ripple Court Victory
A new round of filings for an XRP ETF has been submitted to the SEC following Ripple Labs' legal victory over the SEC. This development raises expectations for potential ETF approvals by the end of October.
XRP ETF Filings After Ripple Court Win
- Seven asset managers amended their S-1 registration statements on August 23.
- Filing firms include Canary Capital, CoinShares, Franklin Templeton, 21Shares, WisdomTree, Grayscale, and Bitwise.
- This coordinated filing is viewed as a positive indicator for XRP ETF approval prospects.
- The filings followed a court ruling that dismissed the lawsuit against Ripple Labs, allowing them to proceed without legal constraints.
- Bloomberg analysts estimate a 95% chance of approval for the ETFs, with decisions expected in late October.
Market Reactions and Future Expectations
- JPMorgan reports potential inflows of up to $8 billion in the first year for spot XRP funds.
- XRP's price increased by over 7%, trading at $3.03, influenced by both the ETF filings and recent comments from Federal Reserve Chair Jerome Powell regarding monetary policy.
- Analysts maintain a positive outlook, with some targeting a $10 price for XRP despite market volatility.