Top asset management companies have just resubmitted amended S-1 filings for the XRP spot ETFs.
These amendments change the fund structure to allow creation and redemption in XRP or cash, reflecting feedback from the U.S. Securities and Exchange Commission (SEC).
MAIN CONTENT
The fund group including Grayscale, Bitwise, and large companies submitted amended S-1 filings for the XRP spot ETF.
The amendments allow for creation and redemption in both XRP and cash, instead of only cash.
This response aims to meet the policies and requirements from the SEC, reflecting cooperation and progress.
Which asset management funds have submitted amended S-1 filings for the XRP spot ETF?
A group of major asset management companies including Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares, and WisdomTree has just resubmitted the S-1 filing for the XRP spot ETF.
This is an important step as leading financial institutions show interest and commitment to developing ETF products related to XRP to expand investment options for cryptocurrency investors while meeting market demands.
Why do funds have to change the creation and redemption structure for the XRP spot ETF?
The amended S-1 filing allows funds to create or redeem not only in cash but also in XRP, reflecting flexible changes in fund management operations.
According to James Seyffart, ETF analyst at Bloomberg, this is almost a direct response to the SEC's request to ensure transparency and safety for investors.
"The amendment is almost certainly a response from the SEC. This is a positive signal but also something that was anticipated."
– James Seyffart, ETF Analyst, Bloomberg
This adjustment helps asset management funds optimize operational processes and minimize legal risks, increasing the attractiveness of the XRP ETF in the eyes of regulators.
How does the SEC's feedback affect the future of the XRP spot ETF?
The positive feedback from the SEC regarding the acceptance of the flexible creation and redemption structure of the XRP ETF is an important premise that helps the fund group get closer to bringing the product to market.
Although final approval depends on many factors, thorough preparation and compliance with regulations show that asset management companies are serious about developing the XRP ETF – a potential product in the cryptocurrency industry.
What are the new points in the amended S-1 filing?
The most notable highlight in the amendment is allowing investors and funds to create and redeem not only in cash but also in XRP.
This mechanism helps reduce transaction costs and increase the operational efficiency of the fund, while also complying with the requirements and feedback from regulators, enhancing the feasibility and competitiveness of the XRP ETF.
Frequently Asked Questions
1. Which companies have submitted S-1 filings for the XRP spot ETF?
The group of companies including Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares, and WisdomTree has submitted the filing again.
2. What is the modification of the structure of the XRP spot ETF?
Allows creation and redemption in XRP or cash instead of only cash, increasing flexibility.
3. Why do funds need to change the filing in response to the SEC?
To meet transparency requirements and reduce legal risks, as responded by the SEC to ensure investor safety.
4. How does allowing the use of XRP in creation and redemption affect the fund?
Helps enhance operational efficiency, reduce costs, and increase the attractiveness of the fund.
5. What could the market reaction be to the submission of the filing?
This is a positive signal, indicating that funds are seriously pursuing the XRP ETF, creating trust for investors.
Source: https://tintucbitcoin.com/grayscale-va-cong-ty-nop-s-1-xrp/
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