Grayscale, Bitwise, Coinshares and more companies presented changes to their requests for ETF XRP

At least about six administrative entities submitted changes to their requests for ETF XRP In cash, process that, although it is within the expected, envives expectations for the arrival of these products to the US market.

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• The main asset managers updated their ETF proposals XRP spot.
• The modifications respond to comments from the American values ​​regulatory entity.
• XRP rose 7% after the wave of simultaneous presentations and market expectations for measures of the Fed.

Yesterday, a group of important investment firms and financial products jointly updated their requests for funds quoted in the stock market (ETF) based on XRP, Native Currency of the Network Ripple, which generates strong expectations about possible approval in the coming weeks.

According to a report published by the medium The Blockthe signatures Grayscale, Bitwise, Canary, Coinshares, Franklin, 21Shares and Wisdomtree presented to the US stock and securities commission (sec) Applications to adjust your requests for ETF XRP spot. While this is a usual step in these processes, recent changes point out that signatures seek to anticipate regulatory demands and show flexibility in the structure of their funds.

Changes in the structure of the funds

Modified presentations include adjustments that allow the creation of participations in XRP or in cash, as well as liquidations in Fiat currency or in kind, instead of limiting only to operations with dollars. This type of structural variation indicates that managers seek to respond more precisely to regulator expectations and offer greater versatility to potential investors.

James Seyffart, an ETF analyst for Bloomberg, commented on his official X account that the changes were “Almost surely the result of the feedback of the regulatory entity”. He also added that, although it is a positive signal, it was also a largely expected movement within the negotiation process between the industry and the supervisory authority.

The role of Blackrock and the future of XRP

An aspect that caught attention is the absence of Blackrock In this process. Despite managing ETFs to the largest cash of Bitcoin and Ethereum In the world, the firm indicated weeks ago that it has no immediate plans to launch a product based on XRP. This decision contrasts with the aggressive position of other managers and raises questions about the differentiated strategy of the greatest global asset manager.

The fact that several companies have submitted simultaneously updates of their requests marks a relevant moment in the regulatory trajectory of XRP. Although the approval still depends on the final position of the American values ​​regulatory entity, recent movements suggest that the market is prepared for a possible opening of products linked to token in the short or medium term.

As to XRP, The price of digital currency reacted strongly in the markets. During Friday, Token registered a 7%increase, reaching a value of USD $ 3.02 at the time of editing. This behavior is part of a broader rebound in the cryptocurrency market, especially after expectations about a possible rate cut in the US.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain.

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