According to CoinWorld, the U.S. Securities and Exchange Commission (SEC) and Ripple jointly withdrew their appeal on August 7, ending a lawsuit that had been ongoing since 2020, which accused Ripple of raising $1.3 billion through the sale of XRP as unregistered securities. The market is following whether this move will encourage large institutions to apply for a Spot XRP ETF, but the world's largest asset management company, BlackRock, has stated that there are currently no plans to apply for an XRP or SOL ETF. Previously, institutions such as ProShares, 21Shares, Canary, and Bitwise had submitted XRP ETF applications to the SEC.

XRP0.48%
SOL2.77%
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