Acting SEC Chair Mark Uyeda, Crypto Task Force Head Hester Peirce, and Commissioner Caroline Crenshaw must vote on an appeal withdrawal. The upcoming Closed Meeting provides an opportunity for a vote. Although unlikely, XRP could face selling pressure if the SEC makes no formal announcement on March 27.
XRP-Spot ETFs: BlackRock Missing from the Pack
An official court filing confirming the withdrawal would open the path for XRP-spot ETF approvals. Currently, issuers such as 21Shares, Bitwise Invest, Canary Funds, Grayscale, and WisdomTree have filed applications for XRP-spot ETFs.
While an XRP-spot ETF market could fuel institutional demand for XRP, BlackRock (BLK) remains notably absent. In the US BTC-spot ETF market, BlackRock’s iShares Bitcoin Trust (IBIT) has reported total net inflows of $39,669 million since launch, offsetting $22,526 million in outflows from Grayscale’s…
