A series of issuers submitted amendments to the spot XRP ETF application, adding a creation mechanism using XRP

Asset management companies including Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares, and WisdomTree collectively submitted updated statements for the spot XRP ETF proposal last Friday. This move reflects a growing desire from the traditional financial sector to obtain SEC approval for listing.

According to Bloomberg's ETF expert James Seyffart, the amendment submissions almost certainly stem from feedback from the SEC. Notably, the new documents have changed the fund structure, allowing for creations using XRP or cash, as well as redemptions in cash or physical assets, rather than being limited to cash as before.