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Seven Firms File Updated S-1 Statements for Spot XRP ETFs

Guavy AI Editorial Team
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Seven asset management firms have filed updated statements for spot XRP ETFs, signaling progress toward regulatory approval. The filings, submitted by Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares, and WisdomTree on Friday, reflect changes in response to SEC feedback. Analysts view the coordinated effort as a positive development.

The updated structures allow for XRP or cash creations with cash or in-kind redemptions, replacing previous cash-only mechanisms. This change is seen as a response to SEC concerns.

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

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