Main to remember
- Six companies have filed S-1 modifications for ETF XRP Spot while Grayscale has submitted a new file for Son ETF XRP Trust.
- The Powell signal of September rate reductions led Ethereum to a new XRP of all time and raised from 10% to $ 3.10.
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Six main asset managers, Bitwise, Canary Capital, Coinshares, Franklin Templeton, 21Shares, and Wisdomtree, have deposited S-1 amendments for funds negotiated in exchange for XRP with the Securities and Exchange Commission on Friday. Grayscale, on the other hand, has submitted a new S-1 recording declaration for the planned ETF of Grayscale XRP Trust.
Simultaneous deposits represent a wave of coordinated activity as the position of the issuers for possible approval of the dry.
The deposits came one day of solid market movements launched by the comments of the president of the federal reserve Jerome Powell at the Jackson Hole symposium. Powell’s comments suggested that interest rates could drop at the next Fed meeting in September, arousing a rally through risk assets.
Ethereum exceeded its November 2021 record to reach a new record greater than $ 4,887 before retiring slightly, while XRP jumped 10% on Friday to negotiate $ 3.10.
The momentum of XRP also reflects progress in the Ripple trial. Earlier in the day, the American Court of Appeal for the second circuit approved Ripple and the joint request of the SEC to reject calls in the case.
The long -standing legal battle between Ripple Labs and the Securities and Exchange Commission has now entered its last stage on Friday, as confirmed by the defense lawyer James Filan.
The changes update the instructions for registering funds which would directly contain XRP, the token linked to the Ripple payment network. Although deposits do not guarantee imminent approval, they reflect active dialogue between transmitters and regulators during the examination process.
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