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 enchantment.
In accordance with a June 16 court docket submitting, each events are pushing to delay the enchantment 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 Choose Analisa Torres rejected. The court docket dominated the request lacked the “distinctive circumstances” wanted to change a ultimate ruling.
In response, Ripple and the SEC submitted a revised movement to droop the continuing enchantment. Notably, the SEC had filed the unique enchantment in October 2024, beneath then-Chair Gary Gensler, to problem a court docket ruling that largely favored Ripple.
Nonetheless, either side reached a preliminary settlement in April 2025 and requested the court docket to droop the enchantment briefly.
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 accredited spot XRP exchange-traded fund (ETF).
In accordance with a press assertion, Function Investments, a Toronto-based asset supervisor, will checklist the Function XRP ETF on June 18 beneath 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 accordance with the assertion:
“The ETF will probably be accessible in CAD-hedged (ticker XRPP), CAD non-hedged (ticker XRPP.B), and US greenback (ticker XRPP.U) models, and will probably be eligible for holding in registered accounts corresponding to TFSAs and RRSPs.”
This milestone comes as a number of US-based companies like Grayscale await the SEC’s choices on their XRP ETF proposals.
Market observers consider that the possibilities of the SEC approving a spot XRP ETF are excessive this yr. That is evidenced by crypto bettors on the decentralized market Polymarket, who consider there may be an 88% probability of approval.
These developments didn’t instantly affect the XRP worth, up by a modest 1.4% to $2.22 as of press time, in keeping with CryptoSlate’s knowledge.
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