Bank of America BofA, one of the world’s leading financial institutions, commented on Ripple (XRP). Analysts, who shared a report on the crypto market last Friday, pointed to the latest developments.
Analysts highlighted the need for institutional investment and comprehensive regulation for crypto to reach the level of universal adoption. The bank thinks that the Ripple (XRP) and SEC lawsuit decision does not fully clarify the situation.
Leading altcoin project Ripple has achieved a partial victory over the SEC with the decision at the beginning of the month. Judge Analisa Torres ruled that the sale of XRP tokens is not covered by securities law.
Speaking about the court decision, BoFA analysts Alkesh Shah and Andrew Moss commented on the decision:
“Judge Torres concluded that the Ripple sale was not an unregistered investment. While this decision pleases the digital asset industry, the long-term results are difficult to predict.”
While Bank of America analysts are more distant towards cryptocurrencies, they are warm to official ETF funds.
