Explosive! Seven major asset management giants take collective action, XRP spot ETF creates huge waves!

The financial circle is in a complete frenzy! According to the latest news from Wu, seven super giants in the asset management industry—Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares, and WisdomTree—have collectively submitted the S-1 amendment for the XRP spot ETF. This move has instantly ignited the market, becoming the focal point of discussion among global investors!

The updated document can be described as a 'transformational breakthrough.' The previously singular cash creation and redemption model has become history; the new rules allow for XRP or cash creation and support cash or physical redemption, opening up a whole new operational space for investors and leading to a significant change in the entire investment logic!

Bloomberg ETF analyst James Seyffart quickly voiced his opinion, stating that these documents are likely a result of feedback from the U.S. SEC. This signal is not trivial; although it was expected, it indicates that the SEC's review of the XRP spot ETF is steadily progressing and reflects a gradual opening of the regulatory attitude towards the crypto asset market.

Looking back, the application journey for the XRP spot ETF has been fraught with difficulties. From Bitwise's initial submission of the application to the Cboe BZX exchange in February 2025 to other institutions following suit, every step has attracted global attention. Now, the collective submission of amendment documents by multiple asset management companies undoubtedly adds fuel to this intense ETF 'competition.'

With Bitcoin and Ethereum spot ETFs having been approved one after another, the crypto asset market has entered a new era. Once approved, the XRP spot ETF, with its unique technological advantages and wide range of application scenarios, is highly likely to become another heavyweight investment tool in the crypto asset field, attracting a massive influx of global capital.

From the market performance perspective, as soon as the news broke, XRP's price fluctuated instantly, with both bulls and bears engaging in fierce competition, and trading volume surged dramatically. Investors are eager to seize the opportunity, whether institutional or retail, closely monitoring the subsequent developments in preparation to gain an edge in this wealth feast.

However, amidst this fervor, risks are also quietly lurking. The final approval result from the SEC remains uncertain, and any slight change in regulatory policy could impact the fate of the XRP spot ETF. Furthermore, market competition is exceptionally fierce; besides XRP, many other crypto assets are also eyeing this 'big cake' of ETFs.