After five years, the long-running Ripple v. the United States Securities and Exchange Commission (SEC) has finally been laid to rest.
According to Commissioner Hester Pierce, the SEC can now redirect its efforts toward creating a clear regulatory framework for the U.S. crypto industry.
Pierce’s attitude was echoed by SEC Chairman Paul Atkins, who added in a social media post that the agency would also focus on fostering innovation while protecting investors.
The broader market, however, appears most interested in potential new spot XRP ETFs, with Canary Capital CEO Steven McClurg even suggesting that they could outperform Ethereum (ETH) ETFs upon launch.
McClurg argued that Ethereum’s staking rewards, typically 2-3% per year, are not very appealing to investors, since direct holders can earn yield. XRP, on the other hand, does not offer staking at all, so fund investors wouldn’t be missing out on anything.
He also pointed to XRP’s dominance in blockchain-based financial services, from cross-border payments and remittances to institutional settlement. What’s more, he added, community support could also fuel substantial inflows, up to $5 billion in the first month.
The bullish comments follow ongoing speculation about a potential BlackRock XRP ETF filing, even though the fund has already denied any such plans.
McClurg is, of course, hardly alone in his view. NovaDius Wealth president Nate Geraci also believes that BlackRock has been waiting for the case to wrap before making more serious moves.
Geraci pointed to strong inflows into futures-based XRP funds (over $1 billion in less than half a year) as proof that demand for spot XRP ETFs could be substantial. Bloomberg analysts James Seyffart and Eric Balchunas also estimate a 95% chance of SEC approval for XRP ETFs in 2025.
