On October 7, the SEC‘s deadline for appealing the Ripple 
$1 case is set to expire, raising significant questions about the outcome. If the SEC does not file an appeal, the case will conclude. In this critical week, Bitwise has submitted an ETF application for XRP Coin, which can be verified on the Delaware website.
XRP Coin ETF
Following the ETF announcement, XRP Coin’s price swiftly dipped below $0.61. Our verification efforts on the platform confirmed the application amid rumors surrounding its filing. Previously, there were claims that BlackRock had filed an ETF application for XRP Coin, which appeared in Delaware’s records. However, authorities later stated that a fraudulent application had been submitted, prompting an investigation.
Currently, while neither party has clarified the authenticity of the application, it appears that Bitwise has initiated the XRP Coin ETF process, assuming no further fraudulent applications surface. We can anticipate increased volatility in the XRP Coin price within hours. As a well-known player in crypto ETF issuances, Bitwise’s confirmation of the application could lead to a rapid price increase for XRP Coin.
The possibility of the SEC approving an XRP Coin ETF post their loss in court seems unlikely, especially with Gensler in charge. He is likely to remain in his position until at least March 2025 unless Trump wins the election.
