WHAT HAPPENS WHEN YOU FIGHT BACK AND HELP GET THE GOVERNMENT’s 🥾 OFF THE NECK OF AN INDUSTRY
3 years ago, the @SECGov argued XRP itself was illegal. SEC lawyers argued that because XRP represented the efforts of @Ripple, ALL XRP tokens constituted unregistered securities.
FAST FORWARD TO TODAY:
And XRP Spot ETFs are on their way to approval.
The SEC deadlines for each approval:
Grayscale - Oct. 18
21Shares - Oct. 19
Bitwise - Oct. 20
CoinShares - Oct. 23
Canary - Oct. 24
WisdomTree - Oct. 25
Following the Bitcoin Spot ETF example, the best-case scenario for XRP ETFs would mean trading begins within 1–5 business days after SEC approval.
Following the Ethereum Spot ETF example, it would be 2 months after approval (with ETH ETFs the SEC wanted additional disclosures regarding S-1 filings.
BOTTOM LINE: As Judge Torres ruled, in part, due to XRP Holders intervening in the case as amici the Judge cited in her ruling:
“XRP ITSELF IS NOT A SECURITY.”
Without that ruling, these Spot ETFs possibly never happen.
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