Key Takeaways
- Six firms filed S-1 amendments for spot XRP ETFs while Grayscale submitted a new filing for its XRP Trust ETF.
- Powell’s signal of September rate cuts drove Ethereum to a new all-time high and lifted XRP 10% to $3.10.
Six major asset managers, Bitwise, Canary Capital, CoinShares, Franklin Templeton, 21Shares, and WisdomTree, filed S-1 amendments for spot XRP exchange-traded funds with the Securities and Exchange Commission on Friday. Grayscale, meanwhile, submitted a new S-1 registration statement for its planned Grayscale XRP Trust ETF.
The simultaneous filings represent a coordinated wave of activity as issuers position for eventual SEC approval.
The filings came on a day of strong market moves triggered by Federal Reserve Chair Jerome Powell’s comments at the Jackson Hole symposium. Powell’s comments suggested that interest rates might come down at the Fed’s next meeting in September, sparking a rally across risk assets.
Ethereum surged past its November 2021 record to hit a new all-time high above $4,887 before retreating slightly, while XRP jumped 10% on Friday to trade at $3.10.
XRP’s momentum also reflects progress in the Ripple lawsuit. Earlier today, the US Court of Appeals for the Second Circuit approved Ripple and the SEC’s joint motion to dismiss appeals in the case.
The long-running legal battle between Ripple Labs and the Securities and Exchange Commission has now entered its final stage, as confirmed by defense lawyer James Filan on Friday.
The amendments update registration statements for funds that would directly hold XRP, the token tied to Ripple’s payments network. While the filings do not guarantee imminent approval, they reflect active dialogue between issuers and regulators during the review process.
Source: https://cryptobriefing.com/xrp-etf-filings-grayscale-eth-ath/
