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Multiple issuers have submitted revised XRP Spot ETF applications, adding support for the creation and redemption of XRP.
On August 23, asset management companies Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares, and WisdomTree all submitted updated statements for their proposed Spot XRP ETF this Friday, indicating the financial firms' eagerness to obtain listing approval from the U.S. Securities and Exchange Commission (SEC). Bloomberg ETF analyst James Seyffart stated that the emergence of these applications is almost certainly due to feedback received from the SEC. This is a good sign, but it was also basically expected. The updated documents seem to change the structure of some funds, allowing for XRP or cash creation as well as cash or physical redemption, rather than just cash creation and redemption.