XRP ETF Push Continues: Grayscale Files Updated Amendment To The US SEC – Approval Ahead?

With the Solana Spot ETF now on the market, prominent figures and companies are pushing hard for the creation of the XRP Spot ETF, deeming it the next big thing in the cryptocurrency scene. As the approval date approaches Several companieslike Grayscale, is improving its regulatory approach.

Grayscale Technology is improving its XRP ETF strategy

Due to the wave of new orders, the race for the XRP spot exchange-traded fund (ETF) continues to heat up in the cryptocurrency sector. One of the latest moves to ensure funds receive approval from the US Securities and Exchange Commission (SEC) is being implemented by GrayscaleIt is a leading asset management company.

Grayscale has officially reignited the frenzy in the investment landscape after submitting an updated amendment to its proposal XRP Spot ETF. John Squire, a cryptocurrency influencer and investor, I mentioned This is a bold move, which indicates that it is actively working to improve its organizational strategy. Squire added that “the walls are getting closer, and mainstream adoption is inevitable” for the altcoin.

Despite increased industry scrutiny over the SEC’s cryptocurrency-related rulings, the revised proposal indicates companies are making a strong push toward the fund. It is worth noting that US Securities and Exchange Commission It is expected to make its decision regarding the fund during this month.

While regulatory approval is not yet guaranteed, the move to file an amendment underscores Grayscales’ conviction that the immediate launch of an ETF is not a matter of if, but when.

The filing states that the fund’s goal is to provide investors with exposure to XRP through stocks that track the digital asset’s market capitalization. according to DepositThe Fund was established pursuant to Delaware law and intends to list on NYSE Arca under the symbol GXRP, subject to regulatory permission.

In connection with the formation and redemption of Baskets, the Trust Fund is now permitted to accept Cash Orders (as defined above), pursuant to which the Authorized Participant deposits Cash into or accepts Cash from the Cash Account. In addition, XRP It will be acquired or received in exchange for cash in connection with this Order by a third party (Liquidity Provider) who is not an agent or otherwise acting in any capacity on behalf of such Authorized Participant.

A game-changing initiative for alternative currencies

Right now, the idea of ​​an XRP Spot ETF is sending shockwaves throughout the community. Many cryptocurrency enthusiasts now believe that the US Securities and Exchange Commission will grant approval to the expected fund by this month A step that would change the course From the token.

According to As for Ripple Bull Winkle, the 100% XRP Spot ETF will launch on November 13. The expert added: “The wait is over, and the gates are open.” Ripple Bull Winkle highlighted that institutional capital is about to flow into the altcoin in an unprecedented way, which is what the market has been waiting for.

Featured image from Getty Images, chart from Tradingview.com

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