Top lawyers share major crypto ETF correlations

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Bill Morgan, a well-known custody lawyer, provided important insights into delays in the Securities and Exchange Commission (SEC) decision regarding XRP and Crypto ETF filings. In particular, the SEC has shifted its decision date for the Spot XRP Exchange-Traded Fund (ETF) linked to Franklin Templeton to June 17, 2025.

SEC timing raises strategic concerns

Morgan in X’s post, this new date is Secv. We note that it matches the deadline for the status report for the Ripple appeal case. He suggests that timing could be odd or potentially strategic.

New York Circuit Judge Jose Cabrans ordered the SEC to file a status report on appeals in the Ripple case within 60 days. This will set a deadline around June 15th, two days before the Franklin Templeton filing decision.

Oddly, the delay in ETF approval until June 17, 2025 is a date that drops shortly after the 60-day deadline for having to file a status report on an SEC V Ripple appeal pursuant to a court order dated April 16, 2025.
– Bill Morgan (@belisarius2020) April 30, 2025

According to Morgan, this timing may suggest that regulators want to see how the appeal of the ripple plays out before they decide on the XRP ETF. The SEC may purchase time before deciding which applications are pending.

The SEC has a new Procrypt chair, Paul Atkins, but the community is keen to see how this ripple lawsuit ends. A favorable ending could provide precedent and legal clarity for XRP and the broader cryptocurrency industry.

Can the outcome of the Ripple lawsuit shape the ETF landscape?

In particular, the Crypto community and XRP holders look forward to the lawsuit being resolved. Many believe that prolonged attraction limits the chances of growing like XRP peers. They believe that XRP ETF approvals could further strengthen adoption and impact prices.

For example, when Ripple Labs CEO Brad Garlinghouse announced in March that the SEC would file a lawsuit, the market responded positively. XRP saw investors flocking to get coins and price increased by around 14%, seeing $2.59.

At the time of reporting, XRP had changed hands at $2.19, representing a 3.56% decline over the past 24 hours. However, trading volume recorded a slight increase of 2.10%, as market participants anticipate gatherings.