Grayscale and Bitwise Amend XRP Spot ETF Filings
Investment firms Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares and WisdomTree submitted updated spot orders on Friday. XRP-funds. Analysts say this could be a good sign that the U.S. Securities and Exchange Commission (SEC) is preparing to approve ETF soon.
These filings were almost certainly made because of feedback from the U.S. Securities and Exchange Commission. A good sign, but largely expected, Bloomberg stock analyst James Seyffarth wrote.
Other prominent experts agree, seeing the changes in applications as a good sign for the funds’ future.
It’s very remarkable that they’ve come together. I think that’s a very good sign,» said NovaDius Wealth President Nate Geraci.
The updated applications will likely present a new fund structure that will allow for the creation of XRP-ETF, and also repay them in cash or in kind.
Interestingly, the world’s largest asset manager BlackRock, which issues exchange-traded funds based on Bitcoin and Ethereum, has yet to file an application to launch spot XRP-ETF.
At the time of writing the article XRP traded at $3,04. Over the past week, the digital asset has fallen by 1,7%. However, over the past XNUMX hours, token grew by almost 8,2%.
