Ripple Labs and the US Securities and Trade Fee (SEC) have collectively requested the Second Circuit Court docket to increase the suspension of the company’s attraction.
In keeping with a June 16 courtroom submitting, each events are pushing to delay the attraction to keep away from additional litigation following their earlier settlement.
This request follows an earlier effort to amend the ultimate judgment within the case, which Choose Analisa Torres rejected. The courtroom dominated the request lacked the “distinctive circumstances” wanted to change a ultimate ruling.
In response, Ripple and the SEC submitted a revised movement to droop the continued attraction. Notably, the SEC had filed the unique attraction in October 2024, beneath then-Chair Gary Gensler, to problem a courtroom ruling that largely favored Ripple.
Nevertheless, each side reached a preliminary settlement in April 2025 and requested the courtroom to droop the attraction quickly.
Though the courtroom has but to grant the extension, the SEC has pledged to submit a progress replace by August.
Canada will get spot XRP ETF
Whereas authorized proceedings proceed within the US, Canada is making historical past with the continent’s first accepted spot XRP exchange-traded fund (ETF).
In keeping with a press assertion, Objective Investments, a Toronto-based asset supervisor, will checklist the Objective XRP ETF on June 18 beneath the XRPP ticker. Objective was additionally the primary issuer of a spot Bitcoin ETF in Canada.
The XRP-focused product will commerce on the Toronto Inventory Trade and supply traders with regulated entry to the digital asset.
In keeping with the assertion:
“The ETF will probably be obtainable in CAD-hedged (ticker XRPP), CAD non-hedged (ticker XRPP.B), and US greenback (ticker XRPP.U) items, and will probably be eligible for holding in registered accounts similar to TFSAs and RRSPs.”
This milestone comes as a number of US-based corporations like Grayscale await the SEC’s selections on their XRP ETF proposals.
Market observers imagine that the probabilities of the SEC approving a spot XRP ETF are excessive this yr. That is evidenced by crypto bettors on the decentralized market Polymarket, who imagine there may be an 88% probability of approval.
These developments didn’t instantly influence the XRP value, up by a modest 1.4% to $2.22 as of press time, in response to CryptoSlate’s information.