Ripple
October 24, 2024
Ripple Unicorn News - October 24, 2024
Ripple CEO Brad Garlinghouse expresses optimism for the approval of XRP ETFs in the U.S., following the success of Bitcoin and Ethereum ETFs. Despite ongoing legal challenges with the SEC, recent court rulings have shown some favorable outcomes for Ripple.
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) Introduction(
) Ripple CEO Predicts Approval of XRP ETFs Following Bitcoin and Ethereum ETF SuccessRipple CEO Brad Garlinghouse has expressed optimism about the potential approval of an XRP Exchange-Traded Fund (ETF) by the U.S. Securities and Exchange Commission (SEC). This optimism is fueled by recent filings from fund managers Bitwise and Canary Capital for XRP ETFs, indicating a strong interest from both institutional and retail investors. Despite Ripple's ongoing legal challenges with the SEC, including a major lawsuit initiated in 2020, the company has experienced some favorable legal outcomes. Notably, a court ruled last year that certain sales of XRP did not qualify as securities, although it did find that $728 million worth of institutional sales were unregistered securities sales. As a result, Ripple was fined $125 million by a New York court, a penalty considered a victory for Ripple given the potential for a much larger fine. These legal developments, along with the strong demand for an XRP ETF, have bolstered Garlinghouse's confidence in the SEC's eventual approval of such a financial product.
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