Both parties have engaged in back-toback legal actions to end the three-year long battle between Ripple and United States Security and Exchange Commission. court fillings. Ripple could launch the first XRP exchange-traded fund if they win the case.
The XRP ETF is likely to be launched as Ripple fights the SEC
On May 7, the US SEC filed under seal its remedy reply brief, along with supporting exhibits. This indicates that documents are still not public. The documents are set to be published on May 8, 2020, but both parties need to confer and meet in order to determine redactions.
On May 13, Ripple, US SEC and all third parties will submit an omnibus motion for sealing of materials related to the remedies briefing. This includes documents, exhibits and declarations. The letter should be filed by all the parties on May 20. It will be under the joint proposal and parties are required to file for the public release of redacted versions of the documents in 14 days following the court’s ruling.
The crypto community has been watching closely to see how the US SEC will fare against Ripple. ruled Ripple’s (XRP) favor. Ripple’s (XRP), if it wins the contest for the second consecutive time, will mark a historic victory for Ripple and the crypto-industry as a whole, who have been under the watchful eye of the government agency.
Also, BlackRock could approve an XRP exchange-traded fund (ETF), which it had planned to do but delayed due to issues with regulatory approval. Since then, the Ripple vs. SEC fight has been the main obstacle to the filing of XRP-based ETFs.
However, XRP’s 24-hour trading volume skyrocketed The court case caused the price to rise by 237%, currently trading at $0.51 and ranking seventh in the cryptocurrency market, according to Coinmarketcap.
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ETFswap (ETFS) It is a crypto-project that uses tokenization to revolutionize the interaction between cryptocommunity members and exchange traded funds (ETFs). ETFswap’s (ETFS) tokenization of ETFs makes it the platform for investing in ETFs including crypto and market ETFs on one interface. If an XRP-based ETF were to be approved, traders would have the option of trading it on the ETFSwap(ETFS) platform. The platform also includes tools such as an ETF search filter that allows traders to limit their ETF options by using specific search criteria.
Furthermore, ETFswap (ETFS) This will offer a Web3 market that will give traders the ability to follow live data on each ETF and to take informed decisions prior to investing. Users will have to own a specific amount of ETFS to be able to use these features. ETFS will also play an important role in how the ETFS network works and the trading of ETFs tokenized.
As a governance token, ETFS will allow holders access to the platform, and they’ll have voting rights. This allows them to be able to participate in decisions made about updates and platform changes. ETFS tokens will be required to convert tokenized exchange traded funds (ETFs) into cryptocurrency or vice versa. These fees are paid on the platform. Staking tokens in the platform stake pool can earn holders an 87% annual percent yield.
ETFswap offers the token at an attractive price during the current stage 1 pre-sale. low price of $0.00854 per coin. The stage 2 price will be $0.01831, a significant increase, ensuring that all purchasers of the stage 1 are guaranteed a profit.
The experts also believe that the coin is about to experience a 200% surge, which will bring its price up close to $3. This would result in an over3200x return for the early investors. Why are you waiting? ETFS is available today.
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Source: ripplecoinnews.com