The post Will Bitwise XRP ETF Gain Regulatory Approval? appeared on BitcoinEthereumNews.com.

Bitwise Asset Management has recently filed an application for an XRP exchange-traded fund (ETF), navigating a complex regulatory landscape. The company submitted an S-1 registration with the U.S. Securities and Exchange Commission (SEC), igniting debates among analysts about the potential outcomes, particularly in light of the SEC’s ongoing legal battles with Ripple Labs Inc. What Challenges Does Bitwise Face? A pivotal moment occurred last year when a judge concluded that XRP does not qualify as a security in a lawsuit against Ripple. This ruling gave Ripple a partial victory, although it also confirmed that the company had violated securities regulations by selling XRP to institutional investors without proper registration. Consequently, the decision has facilitated legal trading of XRP across various platforms. How Will SEC Appeals Affect the ETF? Despite the earlier ruling, recent developments have kept uncertainty alive. The SEC has initiated an appeal to overturn the previous decision regarding XRP’s status, with proceedings expected to extend until October 2024. This appeal could significantly impede Bitwise’s ETF plans, potentially requiring a retraction of the application if the SEC’s challenge is successful. Key points to consider include: Bitwise’s application is currently under scrutiny due to the SEC’s appeal. A favorable ruling for the SEC could classify XRP as a security, jeopardizing the ETF’s approval. Ripple’s leadership expresses confidence that the SEC may endure further setbacks in upcoming legal proceedings. The trajectory of Bitwise’s XRP ETF application remains precarious, with Ripple executives optimistic about future outcomes despite the looming regulatory hurdles posed by the SEC. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/will-bitwise-xrp-etf-gain-regulatory-approval

---

Filed under: News - @ October 5, 2024 3:13 am