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At least 10 companies have suspended XRP-related business support since being sued by the SEC

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In the coming week, more exchanges or asset management institutions may withdraw from XRP business.

Rhythm BlockBeats news, on December 28, Swiss encrypted asset management company 21Sharess (formerly known as Amun) removed XRP from its exchange-traded product (ETP). 21Shares manages $250 million in product assets.

From the SEC’s complaint against Ripple and its executive Brad Garin Several trading platforms and asset managers have stopped supporting XRP products following the lawsuit filed by Brad Garlinghouse and Chris Larsen. According to Rhythm's previous reports, on December 22, the SEC formally filed a lawsuit against Ripple, its CEO Brad Garlinghouse and its co-founder Chris Larsen, accusing the defendant of continuing to issue unregistered digital asset securities since 2013. Raised more than $1.3 billion, violated the registration requirements of the Securities Act, and sought injunctive relief and civil penalties, among other things.

But 21Shares’ ETP product is not listed on the US exchange, so why should XRP be removed? CEO Chief executive Hany Rashwan said the company’s index rules prohibit the inclusion of “any security token and any token that may have liquidity issues.” " The stakes are high for both parties, especially with some large over-the-counter trading desks exiting the XRP market, such as Jump trading and Galaxy Digital. " Rashwan said.

Since the SEC filed the lawsuit, according to Larry Cermak, director of research at The Block, there have been several platforms targeting US users And the company stopped XRP transactions or related services.

Trading platforms: Bitstamp, OSL, CrossTower, Beaxy

do Market/OTC Merchants: Jump trading, Galaxy Digital, B2C2

Asset Management: Bitwise, 21 Shares

Payment Processing: Simplex