Is Ripple Recruiting Executives for Spot XRP ETF Filing?
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In a potential prelude to filing for the Spot XRP ETF with the U.S. Securities and Exchange Commission (SEC), Ripple is seeking a senior manager for the institutional Decentralized Finance (DeFi) sector. Does this signal the onset of broader institutional acceptance of cryptocurrencies in the financial sphere?
Does Ripple Possess an Edge in Securing Approval for the XRP ETF?
Having achieved a legal victory in July 2023, the company obtained partial favor from U.S. District Judge Analisa Torres in Manhattan concerning the regulatory compliance of securities laws related to the sale of XRP tokens to retail investors.
The court is still deliberating on the judgment regarding the institutional sale of tokens. Additionally, the company celebrated another triumph as the U.S. SEC withdrew charges against its executives, including Chief Executive Officer Brad Garlinghouse.
This ruling establishes a legal precedent indicating that XRP sales do not constitute investment contracts, potentially clearing the path for spot ETF approval.
Recently, the SEC requested specific information from Ripple, including audited financial statements for 2022-2023, contracts related to XRP sales or transfers to non-employee parties, and details on money received from XRP sales post the December 2020 lawsuit filing. Ripple, in a response filed on January 19, expressed disagreement with the SEC’s document request.
Is Ripple Getting Set for an ETF Case?
The company is actively recruiting for the position of Senior Manager, Business Development (Institutional DeFi), to be located in London.
This role is integral to the ‘Ripple X’ team, focused on collaborating with enterprises and institutions to create solutions and use cases utilizing the XRPL Ledger and the native digital asset, XRP.
Key responsibilities for this role include spearheading initiatives related to cryptocurrency ETFs in collaboration with internal trading teams and pertinent partners.
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