CandleFocus SEC files appeal in Ripple case, putting XRP ETF on hold
2024-10-02
Author: Content Editor
The SEC has filed a Notice of Appeal in its legal battle against Ripple Labs and its executives, halting the progress on Bitwise's proposed XRP ETF. Bitwise filed for the first-ever spot XRP ETF just before the SEC's deadline to appeal the court ruling in favor of Ripple. The SEC's appeal could extend Ripple's legal saga into 2025 and create regulatory uncertainty around XRP and related financial products. The court case will now move to the U.S. Court of Appeals for the Second Circuit, and the outcome will determine XRP's future and market performance. As a result, it is unlikely that the Bitwise XRP ETF or similar products will move forward until there is a final resolution.
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