Regulation
SEC Acknowledges 21Shares XRP ETF Filing, XRP Price To $59?
The U.S. Securities and Exchange Commission (SEC) has officially acknowledged an application for an XRP exchange-traded fund (ETF) filed by 21Shares. This marks another step in the growing interest in XRP-based investment products.
With this development, speculation around XRP’s potential price surge has intensified. Some analysts believe an approved ETF could drive the token’s price to new highs, with projections reaching as much as $59 per XRP.
US SEC Reviews Another XRP ETF Application
The SEC’s acknowledgment of 21Shares’ filing adds to the list of pending XRP ETF applications. The firm submitted its application in early November, joining other asset managers seeking regulatory approval for an ETF tracking the performance of XRP.
On Thursday, the SEC also acknowledged an XRP ETF filing by Grayscale. ETF analyst Nate Geraci commented on the move, calling it an “enormous message” for the crypto investment market. Apart from Grayscale and 21Shares, other firms such as WisdomTree and Bitwise have also applied for spot XRP ETFs.
Earlier this month, Cboe BZX Exchange submitted regulatory filings to list shares of these products. Market analysts are closely watching the SEC’s next steps, as approvals of crypto-based ETFs have been increasing.
Ripple CEO Brad Garlinghouse had previously stated that an XRP ETF approval in the U.S. was “inevitable” despite ongoing legal challenges.
This Is A Developing News, Please Check Back For More
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Coinbase Vs SEC Lawsuit: The U.S. Securities and Exchange Commission (SEC) has requested a 30-day extension in its legal case against Coinbase. The request was made in a court filing on Friday, where the SEC mentioned that its newly formed crypto task force could help resolve the case.
This move has raised speculation about a possible settlement between the regulator and the cryptocurrency exchange.
US SEC Seeks 30-Day Delay in Coinbase Lawsuit
The US SEC’s request for an extension in the Coinbase Vs SEC Lawsuit was filed in a federal appeals court, where Coinbase had earlier appealed a district court ruling.
Judge Katherine Polk Failla previously ruled that the SEC had a valid case against Coinbase for allegedly offering unregistered securities. Coinbase then sought the appeals court’s opinion on how securities laws apply to digital assets.
The SEC stated that the crypto task force, led by Acting Chair Mark Uyeda and Commissioner Hester Peirce, could influence the case’s outcome.
“The crypto task force’s work may affect and could facilitate the potential resolution of both the underlying district court proceeding and potential appellate review, conserving judicial resources,” the SEC said in its filing.
The commission asked for additional time to prepare its response to Coinbase’s appeal.
This Is A Developing News, Please Check Back For More
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The U.S. Securities and Exchange Commission (SEC) held a meeting with Jito Labs and Multicoin Capital to discuss the potential inclusion of staking in exchange-traded products (ETPs). This discussion was part of the SEC’s ongoing efforts to establish a clear regulatory framework for cryptocurrency investment products.
US SEC Engages Multiple Firms on Staking in ETPs
According to a memorandum released on February 14, the US SEC’s Crypto Task Force met with representatives from Jito Labs and Multicoin Capital to explore how staking could be integrated into crypto-based ETPs. The meeting, held on February 5, was attended by Jito Labs CEO Lucas Bruder and Chief Legal Officer Rebecca Rettig, as well as Multicoin Capital Managing Partner Kyle Samani and General Counsel Greg Xethalis.
The discussion focused on two key points: whether staking could be included as a feature in crypto ETPs and possible models for implementing staking within these products. The filing states that the inclusion of staking could offer benefits to investors while ensuring that issuers contribute to the security of blockchain networks.
During the meeting, the attendees presented two potential approaches for incorporating staking into ETPs. One approach involves allowing a portion of the assets in an ETP to be staked through service providers who operate validators, ensuring that investors can still redeem their holdings in a timely manner.
This Is A Developing News, Please Check Back For More
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Large XRP transactions have sparked discussions in the crypto community as Ripple whales moved 430 million XRP within hours. Meanwhile, Ripple CEO Brad Garlinghouse has expressed optimism about a shift in U.S. crypto regulations, hinting at a new crypto policy approach.
Ripple Whales Transfer Over 430 Million XRP
Blockchain tracking service Whale Alert has reported a series of large XRP transfers, totaling over 430 million XRP. The transactions included 300 million XRP transferred from Ripple to an unknown wallet, followed by another 90 million XRP moved between unidentified wallets. Additionally, 40.8 million XRP were transferred from Coincheck to an unknown address.
These movements have drawn attention, as whale transactions often indicate strategic shifts by major holders.
While the purpose of these Ripple whale transfers remains unclear, large transactions can impact market liquidity and investor sentiment. The timing of these transfers coincides with renewed discussions on regulatory developments surrounding Ripple and XRP.
Brad Garlinghouse Optimistic on Crypto Policy Changes
Ripple CEO Brad Garlinghouse shared his perspective on recent legislative efforts in Washington, D.C. He noted that there is a growing bipartisan push for clearer regulatory frameworks for cryptocurrencies.
“There is finally an incredible opportunity to advance meaningful bipartisan legislation,” Garlinghouse stated, highlighting meetings with lawmakers including Senator Tim Scott and Representatives Ritchie Torres, William Timmons, and French Hill.
Brad Garlinghouse has previously criticized the lack of regulatory clarity in the U.S., arguing that it has driven crypto innovation overseas. His latest remarks suggest that policymakers may be shifting towards a more constructive stance on digital assets. This follows the Securities and Exchange Commission’s (SEC) acknowledgment of a 19b-4 filing related to a potential XRP exchange-traded fund (ETF).
Ripple SEC Lawsuit Settlement Speculation Grows
A U.S. federal judge has paused the SEC’s lawsuit against Binance for 60 days after both parties requested time to assess regulatory developments. This move has fueled speculation about the possibility of a Ripple-SEC settlement, as per ETF store president Nate Geraci as crypto regulatory agencies appear to be re-evaluating their approach to crypto-related lawsuits.
The pause in the Binance case comes as the SEC faces increasing pressure over its stance on digital assets.
The decision to acknowledge XRP-related ETF filings further suggests a potential shift in how the agency handles crypto-related regulations. Market analysts believe this could lead to a resolution in the ongoing legal battle between Ripple and the SEC.
XRP Price Targets $8 Amid Market Optimism
Amid Ripple whale moves, XRP’s price has remained relatively stable despite the large transactions, with traders closely watching developments.
Analysts suggest that if regulatory clarity improves and an XRP ETF is approved, the asset could enter a new price discovery phase.
Some market watchers predict a potential XRP price rally to $8, which would mark a new all-time high for XRP. Community sentiment remains optimistic, with many XRP holders expressing confidence in the cryptocurrency’s long-term potential.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Dogecoin Price Momentum Oscillator Just Had Its 3rd Crossover After 2017 And 2021, Here’s What Happened Last Time
Floki Price Gearing Up For Massive Rally; Analysts Hint At Looming Breakout
XRP Price Jumps 10% as Golden Cross Hints at More Gains
Kaito Token Launch Aims to Monetize Good Social Media Content
SPX, POPCAT Rally, TRUMP Bounces Back
BTC Near $98K, XRP Up 10%, Meme Coins Pump Hard
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Market19 hours agoCrypto Whales Eye TRX, ETH, and CAKE This Week
-
Market18 hours agoThe Altcoins Trending Today – BROCCOLI, MOCHI, and JUP
-
Altcoin17 hours agoEthereum Price To Reach $10K Amid Major Pectra Upgrade Announcement
-
Market23 hours agoPEPE Flashes Reversal Signal To Recoup The 800 EMA, What This Means For Price
-
Market16 hours agoDogecoin Price at Critical Point – Death Cross or Recovery Next?
-
Altcoin23 hours agoShiba Inu Burn Rate Rises 2000% Hinting At SHIB Breakout Soon
-
Market15 hours agoTether Invests in Juventus Football Club, Causing Token Spike
-
Altcoin15 hours agoAnalyst Predicts Solana Price To Hit $1,000, Here’s When
✓ Share: