Several leading asset managers, including Grayscale, Bitwise, Canary, CoinShares, Franklin Templeton, 21Shares, and WisdomTree, filed amended proposals on Friday for their planned spot XRP exchange-traded funds.
The cluster of filings underscores the growing push from financial firms eager to win approval from the U.S. Securities and Exchange Commission (SEC).
Analysts view the coordinated submissions as a direct response to regulatory input. “[The filings were] almost certainly due to feedback from SEC,” Bloomberg ETF analyst James Seyffart wrote on X. “Good sign, but also mostly expected.”
The new amendments reveal adjustments in fund structures. Instead of allowing only cash creations and redemptions, the updated versions now provide for XRP or cash creations and both cash or in-kind redemptions. Market observers say these tweaks may help address concerns raised by the regulator.
Nate Geraci, president of NovaDius Wealth, emphasized the importance of the simultaneous filings. “Highly notable to see them cluster like this,” he wrote on X. “Very good sign IMO.”
Broader ETF Momentum
The SEC has not yet approved a spot XRP ETF, though both spot and futures-based proposals are being considered. Industry analysts believe the cluster of filings highlights issuers’ determination to adapt to regulatory expectations, which could eventually bring an approval closer.
Notably, BlackRock, which already manages the largest spot Bitcoin and Ethereum ETFs, has not filed for an XRP product. The company told The Block earlier this month it has no current plans to launch one.
Meanwhile, the broader ETF landscape continues to expand. Recently, VanEck filed with the SEC to launch the first exchange-traded fund built around JitoSOL, a token on the Solana blockchain. The Form S-1 filing aims to give investors access to Solana’s liquid staking market without requiring them to hold the tokens directly.
Amid Friday’s wider market rally, XRP gained 7% to trade at $3.08 at the time of publication.
Also Read: SEC Extends Review of Nine Crypto ETF Filings Into October
