ckcapital

The SEC has officially filed a Notice of Appeal in its legal battle against Ripple Labs and its executives, Bradley Garlinghouse and Christian Larsen.

This move effectively halts progress on the recently proposed XRP ETF by Bitwise, casting doubt on its future.

Bitwise filed for the first-ever spot XRP ETF on September 30, 2024, just days before the SEC’s deadline to appeal the court ruling in favor of Ripple. However, with the SEC now challenging the final judgment from August 7, 2024, the legal battle over whether XRP is considered a security is far from over.