Haciyev Reşit 
Six major asset managers, including Bitwise, Canary Capital, CoinShares, Franklin Templeton, 21Shares, and WisdomTree, have submitted S-1 amendments to the U.S. Securities and Exchange Commission (SEC) for spot XRP ETFs. This step marks a new phase in the approval process for funds that will hold XRP directly.
New Filing from Grayscale
Simultaneously with the updates from the six companies, Grayscale submitted a new S-1 registration statement for its planned Grayscale XRP Trust ETF. This move officially signals Grayscale’s entry into the spot XRP ETF race.
Powell’s Comments Move the Market
The ETF filing came after Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole symposium. Powell signaled that an interest rate cut could occur in September, sparking a major rally in risk assets.
Ethereum (ETH) surged over 14%, surpassing its November 2021 record of $4,869 to reach $4,887.
XRP also gained 10% on the same day, trading at $3.10.
Final Stage in the Ripple Case
New developments in the Ripple lawsuit also contributed to XRP’s rise. The U.S. Second Circuit Court of Appeals accepted the joint request by Ripple and the SEC to reject appeals in the case.
Confirmed by defense attorney James Filan, this development indicates that the long-standing legal battle between Ripple and the SEC is approaching its final stage.
Critical Process for ETF Approval
Although S-1 amendments and new filings do not guarantee immediate approval, these developments highlight the strengthened active dialogue between issuers and regulators. The consecutive moves for spot XRP ETFs may open a new chapter in the crypto ETF market.
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