Grayscale, Bitwise and Others File Updates for Spot XRP ETFs

TheCryptoTimesPublished on 2025-08-23Last updated on 2025-08-23

Several leading asset managers, including Grayscale, Bitwise, Canary, CoinShares, Franklin Templeton, 21Shares, and WisdomTree, filed amended proposals on Friday for their planned spot XRP exchange-traded funds. 

The cluster of filings underscores the growing push from financial firms eager to win approval from the U.S. Securities and Exchange Commission (SEC).

Analysts view the coordinated submissions as a direct response to regulatory input. “[The filings were] almost certainly due to feedback from SEC,” Bloomberg ETF analyst James Seyffart wrote on X. “Good sign, but also mostly expected.”

The new amendments reveal adjustments in fund structures. Instead of allowing only cash creations and redemptions, the updated versions now provide for XRP or cash creations and both cash or in-kind redemptions. Market observers say these tweaks may help address concerns raised by the regulator.

Nate Geraci, president of NovaDius Wealth, emphasized the importance of the simultaneous filings. “Highly notable to see them cluster like this,” he wrote on X. “Very good sign IMO.”

Broader ETF Momentum

The SEC has not yet approved a spot XRP ETF, though both spot and futures-based proposals are being considered. Industry analysts believe the cluster of filings highlights issuers’ determination to adapt to regulatory expectations, which could eventually bring an approval closer.

Notably, BlackRock, which already manages the largest spot Bitcoin and Ethereum ETFs, has not filed for an XRP product. The company told The Block earlier this month it has no current plans to launch one.

Meanwhile, the broader ETF landscape continues to expand. Recently, VanEck filed with the SEC to launch the first exchange-traded fund built around JitoSOL, a token on the Solana blockchain. The Form S-1 filing aims to give investors access to Solana’s liquid staking market without requiring them to hold the tokens directly.

Amid Friday’s wider market rally, XRP gained 7% to trade at $3.08 at the time of publication.

Also Read: SEC Extends Review of Nine Crypto ETF Filings Into October

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The overarching goal of XRP 2.0 is to establish itself as a reliable and efficient platform enabling swift transaction execution while prioritizing enhanced privacy protections for its users. The project is promoted as a solution to many limitations faced by existing cryptocurrencies, proposing a system that can handle a higher volume of transactions with improved speed and privacy. This versatility positions XRP 2.0 as a significant contender in a marketplace riddled with various digital currencies. Who is the Creator of XRP 2.0? The identity of the creator behind XRP 2.0 has been flagged as ‘Wilbur.’ However, comprehensive details regarding Wilbur or their associated entity remain elusive. The anonymity of many cryptocurrency creators is not an uncommon phenomenon in the industry, often designed to maintain a degree of privacy and security. Who are the Investors of XRP 2.0? As of now, specific information related to the investment foundations or organizations supporting XRP 2.0 is not publicly available. In the cryptocurrency sector, the backing by reputed investors can significantly influence a project's credibility and success, yet the transparency regarding the financial supporters of XRP 2.0 has not been established. How Does XRP 2.0 Work? XRP 2.0 stands out by employing a combination of blockchain technology and advanced encryption algorithms that ensures secure and decentralized transactions. Its innovative structure includes unique features designed to foster user engagement and broaden functionalities beyond conventional cryptocurrency transactions. Among these features, XRP 2.0 incorporates AI-powered capabilities, such as text-to-image and text-to-speech functionalities. These additions are designed to enhance the interactive experience for users, promoting broader applicability across various sectors. By bridging technological advancements with user-centered design, XRP 2.0 aims to capture the attention of a diverse range of individuals and enterprises looking to integrate cryptocurrency solutions into their operational frameworks. Timeline of XRP 2.0 Understanding XRP 2.0 requires examining the milestones that have defined its journey thus far: July 23, 2023: XRP 2.0 is introduced as a novel cryptocurrency project, aiming to revolutionize secure and decentralized transaction capabilities in the blockchain domain. September 8, 2023: The launching of another project, XRP20, occurs, marking the emergence of an ERC-20 token on the Ethereum blockchain that remains unrelated to XRP 2.0. November 13, 2023: The XRP Ledger undergoes a significant update with the release of rippled server software version 2.0.0. It is essential to note that this development is disconnected from the XRP 2.0 cryptocurrency project. Key Points About XRP 2.0 To distill the essence of XRP 2.0, several critical factors emerge: Unique Features: The inclusion of features like AI-powered text-to-image and text-to-speech further diversifies the potential applications of XRP 2.0. Blockchain Technology: The framework utilizes advanced blockchain mechanisms and encryption protocols, ensuring a secure and decentralized environment for transactions. Scalability and Privacy: XRP 2.0 prioritizes enhanced privacy protections in transaction processes and the scalability necessary to accommodate a growing user base. No Affiliation with Ripple: Importantly, despite its name, XRP 2.0 does not have any allegiance or collaboration with Ripple’s XRP, distinguishing its operational framework and objectives within the cryptocurrency ecosystem. Conclusion XRP 2.0 represents an ambitious venture into the cryptocurrency sphere, aiming to offer a combination of security, privacy, and efficiency in digital transactions. 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What is XRP 2.0

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