On November 21, 2024, WisdomTree launched its new product, the WisdomTree Physical XRP ETP (XRPW), which is designed to be traded on several key European exchanges: Deutsche Börse Xetra, SIX Swiss Exchange, Euronext Paris, and Amsterdam. This product is aimed at providing investors with direct exposure to the price of XRP through a physically backed asset.
Ripple has filed a cross-appeal in its lawsuit against the U.S. Securities and Exchange Commission, adding a new twist to the long-running case.
Alderoti said in a post by X that they had filed a cross-appeal against the US SEC today. He said they had taken the step to ensure that “nothing was left on the table,” including the argument that an investment contract cannot exist without substantial rights and obligations.
Canary Capital follows Bitwise in filing for a spot XRP ETF
Canary Capital filed with the SEC on October 8, 2024, to create the first spot ETF based on the XRP cryptocurrency. This is the second time such a fund has been filed, as Bitwise filed a similar application on October 2. A spot ETF allows investors to trade assets without having to directly own the cryptocurrency. Canary's ETF will track the price of XRP using the CME CF Ripple Index, a real-time index that uses quotes from multiple exchanges.
If the SEC does not file Form C by October 17, 2024, Ripple could take several steps.
As of October 2024, the SEC has filed a notice of appeal in the case against Ripple, but Form C has not yet been filed. This form is required to clarify which aspects of Judge Analisa Torres' ruling the SEC intends to challenge. The lack of this information makes it difficult for Ripple to decide what steps to take, including whether to cross-appeal.
SWIFT plans to integrate with digital currencies and blockchain technologies. By 2025, SWIFT will begin conducting test transactions using cryptocurrencies, including central bank digital currencies (CBDCs) and tokenized assets. These pilots aim to connect traditional financial systems and digital asset platforms.
Ripple Can't Cross-Appeal Because SEC Hasn't Filed Form C
"The SEC has not yet filed its Form C with the Second Circuit, which will detail exactly what they are appealing. They need to do that ASAP so Ripple knows how to proceed. Ripple also has 14 days, starting today, to cross-appeal if they wish."
The Battle of XRP and the SEC is not so clear-cut!
Everyone is already aware of the latest news, both coin holders and others, but I want to clarify a couple of points, since the translators are not translating it correctly.
1. The SEC has not filed an appeal YET. Only a NOTICE was filed. A Notice of Appeal is an official document that notifies the court and the other party that you intend to appeal the court's decision. This document must be filed within the specified time frame to initiate the appeal process.
2. To file an appeal, you need a Form C. Form C is an important tool in preparing for an appeal, as it allows the parties and the court to structure the process and focus on the key issues that will be considered at the appellate level.
3. It is important to note that a Notice of Appeal in itself does not extend the time frame for filing an appeal. The party must meet the deadlines established by law, otherwise the right to appeal will be lost.
P.S. Since Form C has not yet been filed, October 6 is the final deadline for filing an appeal. There are suggestions that this is all manipulation of the token rate.Food for thought.