Bitcoin with support establishment! BlackRock provides positive sentiment on the markets!

Ripple CEO (XRP) Brad Garlinghouse expects his company’s legal battle with the U.S. Securities and Exchange Commission (SEC) to “come to an end soon,” but he warns that the crypto industry’s fight for greater legal clarity has just begun.
After the so-called Hinman documents were released on June 13 in the proceedings between Ripple and the SEC, the crypto company now sees itself as having a clear advantage. Garlinghouse now speaks out personally about the process for the first time in a video, showing himself visibly frustrated with the authority’s actions.
Following this assessment, the Ripple CEO’s criticism of the exchange supervisory authority is correspondingly fierce, as Garlinghouse perceives its actions as “clearly and plainly in bad faith.”

This malice on the part of the agency was present in the lawsuit against Ripple from the very beginning, he says, and was particularly expressed in details such as the fact that the lawsuit was filed by the SEC in December 2020 “just days before Christmas,” which is why the crypto entrepreneur attests to the SEC having “a touch of the Grinch” – the fairy tale character who spoils Christmas for others with sadistic glee.
“A clear sign that the agency values politics over people […] and power over meaningful regulation,” Garlinghouse concludes.

The U.S. securities regulator, the SEC, has asked for four more months to provide a response to Coinbase’s request for clarity on crypto regulation.
In a June 13 letter to a U.S. appeals court, the SEC said it needs another 120 days to respond to Coinbase’s request to issue new rules and provide further clarity on crypto laws.
The letter was in response to a June 6 court order to the SEC asking the regulator to indicate whether it needs more time to respond.
The SEC said it had “not yet decided how to deal with this petition in whole or in part.” It went on to say that Coinbase’s petition for a writ of mandamus was “without merit.”
The regulator claimed that the mandamus petition “should be denied,” but expected that it could make a recommendation “within the next 120 days” in connection with Coinbase’s petition for a rulemaking.
In response to the letter, Coinbase’s general counsel Paul Grewal shared on Twitter that the SEC had once again shown that it had yet to rule on a new regulation.

Influential asset management firm BlackRock has filed an application for a “direct” Bitcoin index fund (ETF). Such a Bitcoin ETF, which is directly linked to the price performance of BTC and backed by the cryptocurrency, has not yet been approved in the US.
According to a related filing with the U.S. Securities and Exchange Commission (SEC) by the major exchange Nasdaq, Coinbase Custody Trust Company will hold the fund’s bitcoin assets, while Bank of New York Mellon will hold the related fiat assets. BlackRock’s iShares Bitcoin Trust would trade as a commodity-based trust.
The filing, made on June 15, states that:
“The fund is designed to remove the barriers created by the complexity and operational overhead of investing directly in Bitcoin.”
More fundamentally, this is a big move in the U.S. and could provide a ripple effect.