The U.S. Securities and Exchange Commission (SEC) could soon pause its appeal in the Ripple case. This prediction was made by John Reed Stark, a former director of the SEC’s Internet Enforcement Office. In a post on X, Stark suggested that the regulator might suspend all crypto-related appeals, including Ripple’s, or even withdraw them entirely. According to Stark, this shift is part of a broader change in SEC’s approach. The agency has already requested a two-month pause in its case against Binance and has softened its stance in the Coinbase lawsuit. The change in tone follows the appointment of Mark Uyeda as acting SEC chairman on January 20.
XRP ETF Gets Green Light in Brazil
While regulatory battles continue in the U.S., Brazil has taken a landmark step. The country’s securities regulator, CVM, has approved the world’s first spot XRP ETF. The fund, named HASHDEX NASDAQ XRP FUNDO DE ÍNDICE, has been registered and is preparing for its debut on the B3 stock exchange. Hashdex will manage the fund, with Genial Investimentos serving as its administrator. This move marks a major milestone for XRP’s institutional adoption globally, especially as investors in the U.S. await a potential XRP ETF approval.
Strategy Hits Pause on Bitcoin Buying
Adding to the week’s market shifts, Strategy (formerly MicroStrategy) made headlines after its chairman, Michael Saylor, revealed the company did not purchase any Bitcoin last week. On February 10, Strategy acquired 7,633 BTC, bringing its total holdings to 478,740 BTC at an average price of $65,033. However, the company has now paused further accumulation. Strategy’s stock has dropped over 13% in the past month, while Bitcoin’s price has stabilized around $96,000.
What Does It Mean for the Market?
The combination of SEC’s changing stance, Brazil’s approval of the first XRP ETF, and Strategy’s cautious approach to Bitcoin paints a mixed picture. XRP is gaining traction globally, but major institutional players are showing signs of hesitation as they await clearer market signals.
