The legal fight between Ripple and the U.S. Securities and Exchange Commission (SEC) feels like it’s never going to end. In the latest update, both Ripple and the SEC have filed a new report with the Second Circuit Court, asking to keep their appeal on hold while waiting for a decision from the district court.
Ripple is still trying to lower its $125 million penalty to $50 million and get rid of a court-imposed ban. But the judge didn’t approve it yet. Ripple has refiled, and now, everything is paused until the court makes its next decision. The next important update is expected by August 15, 2025.
What Does This Mean for XRP ETFs in the U.S.?
While the court battle continues, XRP investors are also waiting for news on XRP spot ETFs in the U.S. One of them is Franklin Templeton’s XRP Fund, which has a key deadline on June 17, 2025. But with the lawsuit still ongoing, the SEC is likely to delay its decision on this too.
ETF expert Nate Geraci recently predicted that BlackRock could file for Solana, XRP spot ETFs soon and Solana’s filing might happen any day now, and an XRP ETF application could follow once the Ripple-SEC case finally ends.
Most market experts have agreed in the past that this lawsuit has been holding back ETF plans for XRP in the U.S.
A Win for XRP in Canada
In better news for XRP fans, Purpose Investments is launching its Purpose XRP ETF in Canada after getting final approval from regulators.
The ETF will start trading on the Toronto Stock Exchange on June 18, 2025 under the tickers:
- XRPP (CAD-hedged)
- XRPP.B (CAD)
- XRPP.U (USD)
This fund will offer direct exposure to spot XRP and will be available for registered accounts like TFSAs and RRSPs.
