- Institutional XRP demand climbs as top funds seek ETFs, undeterred by the SEC’s ongoing legal battles with Ripple.
- Ripple’s latest report shows global support for crypto, while the U.S. faces uncertainty with lingering SEC disputes.
- U.S. crypto regulations lag as global markets like UAE and Japan offer favorable conditions, boosting demand for XRP ETFs.
Institutional interest in XRP products is surging, as demonstrated by recent filings for XRP ETFs by prominent firms like Bitwise, Canary, and 21Shares. This movement is bolstered by Grayscale, which launched an XRP Trust and filed to convert its multi-asset fund to an ETF.
The SEC’s ongoing regulatory barriers send a strong message to the market that despite these challenges, XRP’s appeal remains undiminished. XRP products see strong demand even with litigation setbacks that cast doubt on the SEC’s credibility.
The Expanding Collaborations and Regulatory Clarity of Ripple
Ripple shows developments In the Q3 2024 XRP Markets Report like new partnerships and heightened interest in the US elections. According to the story, the US Federal Reserve’s 50 basis point rate cut caused positive market reactions for all cryptocurrencies.
With inflows, ETH ETFs made their historic debut on the U.S. market in July, demonstrating the indisputable impact of crypto ETFs in conventional finance. Bitnomial which is developing an XRP futures product and planning to invest in additional exchange-traded products, is one of the strategic investments made by Ripple.
Ripple and SEC: A Prolonged Legal Battle
The legal system is in confusion as the SEC and Ripple argue about the classification of XRP. Although the court ruled that XRP is not inherently a security, the SEC recently appealed this decision regarding past XRP distributions. Ripple responded with a cross-appeal, setting the stage for extended legal proceedings that may continue into 2025.
Read CRYPTONEWSLAND on
google news
Meanwhile, global jurisdictions like Japan, South Korea, and the UAE are moving toward clearer crypto regulations. In contrast, U.S. regulators remain embroiled in lawsuits with crypto companies, such as Bitnomial and Crypto.com, signaling a fragmented approach.
Global Shifts Favor Crypto Innovation
Globally, many countries are fostering pro-crypto environments. The UAE granted Ripple preliminary approval to expand payment solutions from Dubai, reinforcing its commitment to blockchain innovation.
Moreover, jurisdictions in Asia and the Middle East are actively revisiting crypto regulations to support growth, contrasting with the U.S.’s regulatory ambiguities. Consequently, the demand for regulated crypto products continues to rise, reflecting the maturation and acceptance of digital assets worldwide.
Crypto News Land, also abbreviated as “CNL”, is an independent media entity – we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
