Back
Major Asset Managers File S-1 Amendments for Spot XRP ETFs Amid Market Rally

Major Asset Managers File S-1 Amendments for Spot XRP ETFs Amid Market Rally

Multiple asset managers including Grayscale, Bitwise, and others updated XRP ETF filings following SEC feedback, while Grayscale also advanced plans for a Dogecoin ETF and VanEck proposed a Solana staking token ETF.

SOL
XRP
DOGE

Fact Check
The statement is directly and explicitly confirmed by the evidence. Source 10 ('The Block') reports that 'A handful of asset managers filed S-1 amendments for a spot XRP ETF on Friday,' and specifically names Grayscale and Bitwise. This is corroborated by other sources (1-9) which confirm that multiple major asset managers have submitted initial S-1 filings for spot XRP ETFs, a necessary prerequisite for filing amendments.
    Reference: 123
Summary

Grayscale, Bitwise, Canary, CoinShares, Franklin Templeton, 21Shares, and WisdomTree submitted amended filings for spot XRP ETFs, adjusting structures to permit XRP or cash creations and both cash and in-kind redemptions in line with SEC feedback. Analysts described the filings as expected but a positive step toward potential approval. XRP rose 7% to $3.08 following the news. Meanwhile, VanEck applied for a JitoSOL ETF, the first Solana-based fund tied to a liquid staking token, citing SEC clarity that staking does not constitute a securities transaction. Solana climbed nearly 10% to $199. Additionally, Grayscale disclosed plans to launch the Grayscale Dogecoin Trust ETF under ticker GDOG, seeking listing on NYSE Arca, entering competition with Rex-Osprey and Bitwise in the Dogecoin ETF space.

Terms & Concepts
  • S-1 Registration Statement: A filing with the SEC required for companies seeking to list securities, detailing financial, operational, and risk information for investors.
  • Spot ETF: An exchange-traded fund that directly holds the underlying asset, such as XRP, rather than derivatives or futures.
  • Liquid Staking Token (LST): A token representing staked assets, allowing holders to earn staking rewards while maintaining liquidity.