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Investors Growing Confident in Ripple’s Victory Against SEC: CoinShares

Recent developments in the Ripple v. Securities and Exchange Commission (SEC) lawsuit appear to have boosted investor confidence in investments tied to XRP, according to investment data from CoinShares head of research James Butterfill. .

Butterfill said in the latest Digital Asset Fund Flows, published Nov. 7, that XRP investment products have seen institutional inflows for the third consecutive week, recording $1.1 million.

Butterfil said the figure implied that it would “improve investor confidence as the SEC lawsuit against Ripple looks increasingly fragile.”

In recent weeks, Ripple Labs has attracted endorsements from crypto industry heavyweights such as Coinbase and Blockchain Association.

In a Nov. 4 post, Ripple Stuart Alderoty’s General Counsel directed its 89,000 followers to “12 independent voices, including businesses, developers, exchanges, public interest and trade associations, and retailers.” announced that it offered their help to explain how it was “dangerously wrong.” It’s SEC. ”

Other organizations backing Ripple include the non-profit Investor Choice Advocates Network, crypto mobile app SpendTheBits, Crypto Council for Innovation, and XRP’s “decentralized community.”

In total, there are 12 independent groups pledging legal assistance for Ripple.

But Ripple CEO Brad Garlinghouse, speaking at DC Fintech Week on Oct. 11, said the lawsuit could still take months, despite support and both sides seeking summary judgment. I have.

Garlinghouse speculates that the case could be closed by early 2023, but admits that’s speculation.

Related: Judge rules that LBRY video platform tokens are security when brought in by US SEC

A recent ruling by the US District Court in favor of the SEC against blockchain-based file-sharing and payment network LBRY could complicate Ripple’s case as well.

Hogan & Hogan partner Jeremy Hogan told his 238,000 followers that he hopes the outcome of his lawsuit will be “reflected in the SEC’s final opinion in the Ripple litigation.” rice field.

Crypto attorney John Deaton remains bullish on the chances of Ripple winning the case.

on twitter PositionDeaton said the recent ruling “doesn’t shake my confidence at all,” and teased a longer account of his 224,000 followers on Nov. 8.