Key takeout
- While Grayscale submitted new submissions for the XRP Trust ETF, six companies submitted S-1 amendments to the Spot XRP ETF.
- Powell’s signal for interest rate cuts in September drove Ethereum to an all-time high, raising XRP by 10% to $3.10.
Six key asset managers, Bitwise, Canary Capital, Coinshare, Franklin Templeton, 21 shares, and WisdomTree; S-1 amendment has been submitted Spot XRP exchange for trade funds with the Securities and Exchange Commission on Friday. Meanwhile, gray scale Submit New S-1 Registration Statement for the planned Grayscale XRP Trust ETF.
Concurrent submissions represent a wave of coordinated activities as the position of the final SEC approval issuer.
The filing came on the day of strong market moves caused by the Federal Reserve Chair Jerome Powell’s comments At the Jackson Hole Symposium. Powell’s comments suggested that interest rates could fall at the Fed’s next meeting in September, causing a rally for the entire risky assets.
Ethereum skyrocketed beyond November 2021 record Hit the newest ever Over $4,887 before retreating slightly, XRP jumped 10% on Friday to trade for $3.10.
XRP’s momentum also reflects the advancements in Ripple litigation. Today, the United States Court of Appeals for the Second Circuit Joint Ripple and SEC movement approved Dismiss the appeal in the case.
The long-term legal battle between Ripple Labs and the Securities and Exchange Commission is now in its final stages. Confirmed Friday’s defense attorney James Phillan.
The revision will update the registration statement for funds that directly retain XRP. The token is tied to Ripple’s payment network. The submission does not guarantee imminent approval, but reflects an active dialogue between the publisher and the regulator during the review process.
