According to the latest report , a group of asset management firms submitted S-1 amendments for a spot XRP ETF (exchange-traded fund) in the United States. These movements reflect the ramped-up interest of these institutions to get the approval of the US Securities and Exchange Commission (SEC) to offer this crypto-linked investment product. What Changed In The Proposed Spot XRP ETFs? On Friday, August 22, a slew of asset managers, including Grayscale, Bitwise, Canary, CoinShares, Franklin Templeton, 21Shares, and WisdomTree, filed amended S-1 statements for their proposed spot XRP ETFs. According to experts, this round of filings might be in response to the US SEC’s feedback on their original applications. Bloomberg ETF analyst James Seyffart said on X: Bunch of XRP ETF filings being updated by issuers today. Almost certainly due to feedback from [the] SEC. Good sign, but also mostly expected. Similarly, the ETF Store President, Nate Geraci, shared a similar sentiment, saying that it is very significant to see the various asset managers roll out their amended S-1 filings at once and on the same day. “Very good sign IMO [in my opinion],” Geraci wrote on X. For a security or ETF to be listed on an exchange, it needs an S-1 filing, which provides a brief prospectus of the proposed security. Meanwhile, the S-1 form is amended as material information changes regarding the structure of the exchange-traded fund. Hence, it is no surprise to see some changes in the structure of proposed spot XRP ETFs. For instance, the amended S-1 filing appears to switch the exchange-traded products from simply cash creations and redemptions to allow for XRP or cash creations and cash or in-kind redemptions. It is worth mentioning that BlackRock, the world’s largest asset management firm and manager of the largest spot Bitcoin and Ethereum exchange-traded fund, has still not made a move to join the race for the spot XRP ETFs. As reported by Bitcoinist , the trillion-dollar asset manager revealed earlier in August that it has no intentions to launch an XRP fund. XRP Price At A Glance Following a torrid start to the week, the XRP token fell beneath the $3 mark to as low as $2.8 on Friday. However, the altcoin jumped back above $3 on the back of the news of the complete dismissal of Ripple’s lawsuit and Federal Reserve Chairman Jerome Powell’s speech. As of this writing, the XRP token is valued at around $3.01, reflecting an over 5% price jump in the past 24 hours.
