GetBlock Magazine - Main:
Grayscale, Bitwise, and other asset managers have submitted updated applications for spot XRP-ETFs.
The applications adjust structures, including the creation of an XRP-ETF, as well as redemption in both cash and physical form.
Although XRP rose by 7% on the news, BlackRock has so far refrained from submitting an application.
Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares, and WisdomTree have submitted updated documents for the establishment of exchange-traded funds (ETFs) based on XRP, signaling a renewed effort to gain approval from the U.S. Securities and Exchange Commission (SEC).
Analysts view the influx of applications as a sign that asset managers are responding to feedback from the regulator. The SEC has yet to approve any spot XRP-ETF, although, according to The Block's XRP-ETF Tracker, both spot and futures funds have been proposed. James Seyfat noted that this is a good sign, while also being quite expected.
