Investors increasingly confident of Ripple's victory over SEC: CoinShares
Recent developments in the Ripple vs Securities and Exchange Commission (SEC) case appear to have bolstered investor confidence in XRP-tied investment products, according to investment data from CoinShares’ head of research James Butterfill.
In its latest Digital Asset Fund Flows published on Nov. 7, Butterfill noted that XRP investment products have seen a third consecutive week of institutional inflows, clocking $1.1 million.
Butterfill said the figures imply "improving investor confidence as the SEC case against Ripple looks increasingly fragile."
The last few weeks have seen Ripple Labs gaining increasing support from heavy hitters in the crypto industry including Coinbase and the Blockchain Association.
In a Nov. 4 post, General Counsel for Ripple Stuart Alderoty announced to his 89,000 followers that "A dozen independent voices - companies, developers, exchanges, public interest and trade assoc's, retail holders” had offered their help to explain how “dangerously wrong the SEC is."
A dozen independent voices - companies, developers, exchanges, public interest and trade assoc.’s, retail holders - all filing in SEC v Ripple to explain how dangerously wrong the SEC is. The SEC’s response? We need more time, not to listen or engage, but to blindly bulldoze on. https://t.co/PRgvwI9m2X
Other entities in support of Ripple include non-profit organization Investor Choice Advocates Network and crypto mobile app SpendTheBits, the Crypto Council for Innovation as well as the XRP "decentralized community.”
In total, there are 12 independent entities pledging legal support for Ripple.
However, despite the support and both sides calling for a summary judgment, the case could still take months, according to Ripple CEO Brad
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