Ripple Labs and the US Securities and Change Fee (SEC) have collectively requested the Second Circuit Courtroom to increase the suspension of the company’s attraction.
In line with a June 16 court docket submitting, each events are pushing to delay the attraction to keep away from additional litigation following their earlier settlement.
This request follows an earlier effort to amend the ultimate judgment within the case, which Decide Analisa Torres rejected. The court docket dominated the request lacked the “distinctive circumstances” wanted to change a remaining ruling.
In response, Ripple and the SEC submitted a revised movement to droop the continued attraction. Notably, the SEC had filed the unique attraction in October 2024, underneath then-Chair Gary Gensler, to problem a court docket ruling that largely favored Ripple.
Nevertheless, each side reached a preliminary settlement in April 2025 and requested the court docket to droop the attraction quickly.
Though the court docket has but to grant the extension, the SEC has pledged to submit a progress replace by August.
Canada will get spot XRP ETF
Whereas authorized proceedings proceed within the US, Canada is making historical past with the continent’s first permitted spot XRP exchange-traded fund (ETF).
In line with a press assertion, Function Investments, a Toronto-based asset supervisor, will checklist the Function XRP ETF on June 18 underneath the XRPP ticker. Function was additionally the primary issuer of a spot Bitcoin ETF in Canada.
The XRP-focused product will commerce on the Toronto Inventory Change and supply buyers with regulated entry to the digital asset.
In line with the assertion:
“The ETF might be accessible in CAD-hedged (ticker XRPP), CAD non-hedged (ticker XRPP.B), and US greenback (ticker XRPP.U) models, and might be eligible for holding in registered accounts reminiscent of TFSAs and RRSPs.”
This milestone comes as a number of US-based corporations like Grayscale await the SEC’s selections on their XRP ETF proposals.
Market observers consider that the possibilities of the SEC approving a spot XRP ETF are excessive this 12 months. That is evidenced by crypto bettors on the decentralized market Polymarket, who consider there’s an 88% probability of approval.
These developments didn’t instantly influence the XRP worth, up by a modest 1.4% to $2.22 as of press time, based on CryptoSlate’s information.
Talked about on this article
