XRP ETF Race Heats Up as Major Asset Managers Rush to Update Filings

Altcoins

Several leading asset managers, including Grayscale, Bitwise, CoinShares, Franklin, 21Shares, Canary, and WisdomTree, submitted revised filings for spot XRP exchange-traded funds (ETFs) on Friday.

Analysts say the coordinated updates suggest firms are responding directly to feedback from the U.S. Securities and Exchange Commission (SEC) in hopes of moving closer to approval.

The SEC has yet to greenlight a spot XRP ETF, though applications exist for both spot and futures-based products. Bloomberg analyst James Seyffart called the latest filings “a good sign, but largely expected,” noting they were almost certainly made in response to regulatory input.

Notably, the updated documents adjust the structure of the proposed funds, allowing creations and redemptions in either XRP or cash — a departure from earlier cash-only designs.

NovaDius Wealth president Nate Geraci described the wave of simultaneous updates as “remarkable,” adding that it signals a more serious phase of engagement with regulators.

While the push reflects growing momentum for an XRP ETF, the absence of an application from BlackRock — already a leader in spot Bitcoin and Ethereum ETFs — drew attention.

For now, the filings underscore heightened competition among issuers eager to bring the first spot XRP product to market.

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