
A research note from Capstone highlighted by Crypto researcher, SMQKE, has drawn attention for its forward-looking stance on both the ongoing SEC v. Ripple case and the potential for spot XRP ETFs. The firm explicitly stated: “We expect the SEC to approve spot XRP ETFs this year.” It further added, “We expect the SEC to drop its case against Ripple, clearing the way for the approval of XRP ETFs.” These two projections, combining legal clarity and regulatory approval, have been highlighted as a potential inflection point for XRP adoption and institutional engagement. Capstone Research: “We expect the SEC to approve spot ETFs AND drop the Ripple case this year.” The dismissal of the SEC case would clear the path for XRP ETF approvals. A potential Ripple v. SEC settlement could align with ETF approval timelines. Documentation below.… https://t.co/wAlJHc4AGv pic.twitter.com/JfPE43DPul — SMQKE (@SMQKEDQG) August 1, 2025 Capstone’s report outlines that the SEC’s enforcement action against Ripple, centered on claims that the company conducted unregistered securities offerings through institutional sales of XRP, is nearing a critical juncture. The legal battle has been active since late 2020, with a partial ruling from Judge Analisa Torres in July 2023 that distinguished between institutional and retail sales. Ripple was ordered to pay a civil penalty of $125 million . However, the retail sales of XRP were not deemed securities. The case remains unresolved as of now, and Capstone forecasts the SEC may withdraw its appeal, bringing an end to the litigation. Institutional Momentum and Filing Activity Increase Pressure Capstone’s note also references the timeline and context surrounding XRP ETF applications. On October 2, 2024, Bitwise became the first asset manager to file an S-1 registration for a spot XRP ETF. Since then, additional firms, including Canary Capital, 21Shares, and WisdomTree, have followed. The anticipation of SEC approval is based not only on the filing activity but also on the legal clarity expected from the resolution of the Ripple case. SMQKE presented this information alongside comments from other market observers. One X user, Darius Ellis, wrote , “If this plays out, it won’t just be bullish for XRP, it will validate the entire utility-first thesis. Regulatory clarity and ETF access are how real adoption begins. The rails are ready.” His comment suggests that the implications extend beyond XRP, potentially strengthening the broader digital asset sector’s infrastructure for regulatory compliance and institutional utility. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Legal Timeline May Align With ETF Approval Window Another X user, Mark Mark, pointed out what he referred to as “key catalysts” that could shape the remainder of the year. Citing former SEC regional director and legal analyst Marc Fagel, he noted that both Ripple and the SEC could agree to dismiss their respective appeals ahead of a scheduled August 15, 2025. This would effectively finalize Judge Torres’s earlier ruling. In that scenario, XRP’s legal status would be settled, removing the primary obstacle that currently prevents ETF approval. The legal clarity could trigger a wave of institutional participation. Ripple has previously revealed over 1,700 non-disclosure agreements with institutional partners. Additionally, its partnership with BNY Mellon for the custody of its RLUSD stablecoin demonstrates further readiness. Mark also referenced prediction markets, where PolyMarket reportedly shows an 86% chance of XRP ETF approval in 2025. Capstone’s assertion that the SEC could simultaneously end its legal pursuit of Ripple and approve XRP ETFs this year aligns with growing speculation that regulatory alignment and market readiness are nearing convergence. With multiple firms already in line for ETF offerings and institutional partnerships already structured, the dismissal of the case would eliminate the primary legal barrier. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Capstone Research: We Expect SEC to Drop Ripple (XRP) Case and Approve ETFs This Year appeared first on Times Tabloid .