Ripple-SEC Case Closure Followed by Rush of Updated XRP ETF Filings
The long-running authorized battle between Ripple Labs and the US Securities and Change Fee (SEC) has concluded, ending probably the most intently watched courtroom battles in crypto historical past.
On August 22, the Second Circuit Courtroom dismissed all excellent appeals, confirming that transactions involving XRP on public exchanges don’t qualify as securities gross sales. The ruling ends a dispute that started in December 2020, when the SEC accused Ripple of elevating $1.3 billion by way of unregistered XRP choices.
Ripple Ends 5-12 months Battle With $125 Million Advantageous
Ripple’s authorized protection spanned almost 5 years and price greater than $100 million, reflecting the uphill battle it confronted beneath the hostile regulatory surroundings formed by SEC Chair Gary Gensler and the Biden administration.
Nonetheless, the trajectory of the case shifted in July 2023 when Decide Analisa Torres dominated that retail gross sales of XRP had been lawful, whereas institutional gross sales violated securities legal guidelines.
#XRPCommunity #SECGov v. #Ripple #XRP The Second Circuit has permitted the Joint Stipulation of Dismissal. pic.twitter.com/v796dAtfiZ
— James Okay. Filan
(@FilanLaw) August 22, 2025
Each Ripple and the SEC initially appealed that cut up ruling, prolonging the uncertainty.
Nonetheless, the political local weather shifted with the return of Donald Trump and the appointment of a extra crypto-friendly SEC management. This growth opened the door to settlement talks.
By March, Ripple Chief Govt Brad Garlinghouse confirmed a tentative deal involving a $50 million penalty and mutual withdrawal of appeals. Judge Torres initially rejected that agreement, preserving the case unresolved.
However in early August, either side collectively requested dismissal, and the Second Circuit endorsed the proposal with a $125 million high-quality.
Crucially, Torres’ earlier opinion—emphasizing that “XRP itself shouldn’t be a safety”—stays intact.
Market observers imagine this precedent will affect future product approvals and regulatory steerage.
XRP ETF Momentum Accelerates
The readability from the ruling instantly sparked motion within the funding merchandise sector.
On August 22, seven asset managers, together with Grayscale, Franklin Templeton, Bitwise, CoinShares, WisdomTree, 21Shares, and Canary, up to date their filings for an XRP-focused spot exchange-traded fund (ETF).
Nate Geraci, president of funding advisory agency NovaDius Wealth, described the flurry of exercise as proof that issuers are aligning proposals and positioning for an eventual regulatory acceptance.
Notably, the SEC has not permitted a spot XRP ETF product within the US regardless of the presence of leverage funds.
In the meantime, pro-crypto lawyer John Deaton noted that October might be a essential month, because the SEC faces a collection of ETF utility deadlines—starting with Grayscale on the 18th and ending with WisdomTree on the twenty fifth.
Deaton identified that buying and selling for these merchandise may start inside days if the SEC approvals mirror the method for Bitcoin spot ETFs.
Nonetheless, their launches may take a number of months if the SEC calls for further disclosures, because it did for Ethereum ETFs.
In the meantime, these developments sparked optimism within the XRP market.
Based on BeInCrypto knowledge, the token gained 4% over the last 24 hours and traded at $3.01 as of press time.
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