XRP ETF Race Heats Up as Seven Firms File Amendments

Major asset managers filed updated S-1 statements for spot XRP ETFs on Friday, signaling progress toward regulatory approval.

Major asset managers filed updated S-1 statements for spot XRP ETFs on Friday, signaling progress toward regulatory approval. Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares and WisdomTree all submitted amendments simultaneously.

Analysts view the coordinated filings as responses to SEC feedback, marking a positive development. The updated structures allow for XRP or cash creations with cash or in-kind redemptions, replacing previous cash-only mechanisms.

Bloomberg ETF analyst James Seyffart called the cluster filing "almost certainly due to feedback from SEC" and a "good sign." NovaDius Wealth president Nate Geraci described the coordination as "highly notable" and a "very good sign."

Notably absent from the filings is BlackRock, which manages the world's largest spot Bitcoin and Ethereum ETFs. XRP traded up 7% to $3.08 amid Friday's broad market rally.

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