Key Takeaways

Seven issuers updated spot XRP ETF filings, coinciding with the approved Ripple-SEC case dismissal. Whales’ moves suggested they expected the altcoin to rally higher. 

On the 22nd of August, several issuers submitted amended U.S. spot XRP ETF filings as the Ripple-SEC case was finally dismissed. 

Seven issuers, including Bitwise, Canary, Coinshares, Franklin Templeton, Grayscale, WisdomTree, and 21shares, filed amended S-1 amendments. 

On his part, Bloomberg ETF analyst James Seyffart stated that the updated filings were likely due to the comments from the Securities and Exchange Commission (SEC). 

He applauded the update as a ‘good sign.’

“Almost certainly due to feedback from the SEC. Good sign, but also mostly expected”

Nate Geraci, co-founder of ETF Institute, also underscored the cluster filings as ‘notable’ and a ‘very good sign.’

Ripple-SEC case dismissal sealed

Another bullish update was the final dismissal of the Ripple-SEC case. The parties had applied for a joint dismal of their appeals, and the Second Circuit approved it, further clearing the regulatory hiccup once and for all.