Grayscale and Bitwise submit updated applications for XRP ETF

The analysts see the flood of applications as a sign that asset managers are responding to the SEC’s feedback

Grayscale and Bitwise have updated their applications for spot XRP ETFs

25.08.2025 - 12:10

421

2 min

Key points:

Grayscale, Bitwise, and other asset managers have submitted updated applications for spot XRP ETFs.
The applications adjust structures, including the creation of XRP ETFs, as well as redemption in both cash and in-kind.
Although XRP rose 7% on the news, BlackRock has so far refrained from filing an application.

Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares, and WisdomTree have filed updated documents to launch XRP-based exchange-traded funds (ETFs), signaling a renewed effort to obtain approval from the US Securities and Exchange Commission (SEC).

The analysts see the flood of applications as a sign that asset managers are responding to feedback from the regulator. The SEC has not yet approved any spot XRP ETFs, although both spot and futures funds have been proposed, according to The Block’s XRP ETF Tracker. James Seyffart noted that this is a good sign, while quite expected.

Source: x.com

The updated applications change the structure of some funds, allowing them to create XRP ETFs and redeem them in cash or in-kind. It is noteworthy that although BlackRock manages the world’s largest spot Bitcoin ETF and ETH ETF, the management company has not applied for an XRP ETF. BlackRock previously announced that it currently has no plans to launch an XRP fund.

Amid a general market rally on Friday, the price of XRP rose 7%.

Author: