This summer, the Ripple ecosystem is awaiting two important events that could significantly affect the legal status of the cryptocurrency XRP and its availability in the US market.
The first event is related to the consideration of the application for an exchange-traded fund (ETF) based on spot XRP from Franklin Templeton. The second concerns updates in the court proceedings between the SEC and Ripple Labs.
Decision on XRP ETF
On June 17, the U.S. Securities and Exchange Commission (SEC) extended the consideration of the Cboe BZX application for the listing of the spot XRP-ETF from Franklin Templeton, opening a new period for public comments. Typically, this period lasts 21 days, followed by an additional 14 days for objections. During this time, the SEC must either approve or reject the listing application or request additional time.
However, there is a rule of 240 days for such applications: this is the period allotted to the regulator to make a final decision on the application. This means that the SEC must make a decision by the end of July 2025.
This summer, the Ripple ecosystem is awaiting two important events that could significantly affect the legal status of the cryptocurrency XRP and its availability in the US market.
The first event is related to the consideration of the application for an exchange-traded fund (ETF) based on spot XRP from Franklin Templeton. The second concerns updates in the court proceedings between the SEC and Ripple Labs.