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Grayscale and six other institutions update XRP ETF applications, SEC approval is expected.
On August 23, asset management companies Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares, and WisdomTree all submitted updated statements on their proposed Spot XRP ETF this Friday, which again indicates the financial companies' eagerness to obtain listing approval from the SEC.
Bloomberg ETF analyst James Seyffart stated that the appearance of these applications is almost certainly due to feedback received from the SEC. This is a good sign, but also basically expected.
The updated document seems to have changed the structure of some funds, allowing for the creation of XRP or cash and the redemption of cash or physical assets, rather than just cash creation and redemption.