Ripple closed the SEC ledger: "BlackRock may intervene"

Ripple CEO Brad Garlinghouse announced that they have withdrawn their counter-appeal in the XRP case and that they expect the Securities and Exchange Commission to do the same (SEC).

Garlinghouse stated in a message shared via X, “As Ripple, we are withdrawing our counter-appeal. The SEC will also withdraw its own appeal as previously stated. This completely closes this chapter, and we are focusing on what is truly important: building the Internet of Value. Be ready.”

This statement comes after the federal court rejected the joint request of Ripple and the SEC to reduce the penalty imposed on Ripple to 50 million dollars. Judge Analisa Torres denied the request, stating that the parties did not meet the necessary exceptional legal standards to lift the permanent injunction or reduce the penalty.

Eyes are now on the XRP ETF decision

After Ripple withdrew its counter-appeal and completely closed the case, attention has turned to the decision regarding the spot ETF for XRP.

Nate Geraci, the general manager of the U.S.-based asset management company The ETF Store, stated that this development could accelerate the approval of the spot XRP ETF application. Geraci said, “The closing of this book opens the way for the spot XRP ETF. At the same time, it also facilitates BlackRock’s entry into the market.”

The SEC is expected to make its final decision on applications in the last quarter. So far, companies such as Grayscale, Bitwise, Canary, 21Shares, WisdomTree, CoinShares, and Franklin have filed applications for XRP. BlackRock, which has Bitcoin and Ethereum spot ETFs, has not yet entered the fray. On the other hand, Bloomberg analysts see the probability of XRP ETF approval at 95% within 2025.

Published: June 28, 2025 20:33Last Updated: June 28, 2025 20:34