Grayscale, Bitwise, Canary, CoinShares file for tweaking spot XRP ETF

Big players like Grayscale, Bitwise, Canary, and CoinShares are fine-tuning their applications for spot XRP ETFs, working closely with the SEC to get things just right. They’re setting up these ETFs to allow for either XRP or cash when creating or redeeming shares, offering flexibility that makes the whole process smoother.

It feels like the SEC is guiding them step-by-step, and while it’s not a done deal, this back-and-forth is a solid sign of progress. It’s not just talk—these firms are laying the groundwork for something real. Approval isn’t here yet, but the odds are looking better, and big investors are definitely paying attention.

By allowing both cash and in-kind options, these ETFs are being built to run efficiently, much like the best in the business. If the SEC gives the green light, we could see a flood of new money flowing in, making XRP more accessible to everyday investors.

This dual setup reduces headaches for authorized participants (APs) and keeps pricing tight—exactly what you want before launch. It’s clear the SEC’s feedback is moving things forward, and the next steps will likely involve finalizing the operational details. Things are heating up, and it’s exciting to watch.