XRP ETF Filings Amended by Major Asset Managers
- Asset managers resubmit XRP ETF filings to SEC.
- Filings address regulatory feedback for approval.
- XRP price increased with ETF anticipation.
Major asset managers, including Grayscale and Bitwise, have resubmitted amended XRP ETF filings to the SEC, reacting to feedback, aiming for increased flexibility and alignment with approved structures.
Anticipated XRP ETF approvals may drive institutional inflows, affecting digital asset markets and enhancing regulatory acceptance, with XRP prices already experiencing notable volatility due to optimism.
Grayscale, Bitwise, and other asset managers have amended XRP ETF filings, responding to SEC feedback to align with approved Bitcoin and Ethereum ETFs.
The revised filings are critical in enhancing institutional interest and potentially increasing XRP’s market adoption amid regulatory compliance efforts.
Grayscale and Bitwise Update XRP ETF Proposals
Asset managers including Grayscale and Bitwise have recently updated their XRP ETF filings. This move aims at aligning with SEC feedback to improve the chances of approval. In response to SEC’s guidance, firms like 21Shares and CoinShares have refined their filings focusing on flexibility and compliance, hoping to replicate the success of Bitcoin and Ethereum ETFs.
“The filings were made almost certainly in response to feedback from the SEC.” – James Seyffart, ETF Analyst, Bloomberg[Source link].
XRP Price Surges 7% on ETF News
The market reacted positively to the filing amendments, with XRP’s price increasing by 7%. This indicates investor optimism about the possibility of getting regulatory approval.
Nate Geraci, President, NovaDius Wealth, praised the coordinated strategy to accelerate approval[Source link].
Institutional interest in XRP has risen due to expectations of a potential multi-billion-dollar inflow, signaling significant market shifts and increased digital asset adoption.
XRP ETF Could Mirror Bitcoin and Ethereum Success
Previous Bitcoin and Ethereum ETF approvals in 2024 resulted in substantial institutional inflows, boosting liquidity in related markets. The XRP filings might echo this trend. If approved, XRP ETF could facilitate large-scale financial integration, reminiscent of past Bitcoin and Ethereum ETF successes, thereby reinforcing digital asset legitimacy in financial markets.
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