Amplify Investments Files Prospectus for XRP-Based ETF
Amplify Investments has submitted a prospectus to the U. S. Securities and Exchange Commission (SEC) for its XRP-based monthly options income exchange-traded fund (ETF).
The document provided by the company contained the following statements:
Options income ETFs are designed to offer investors monthly income by utilizing options strategies. Amplify’s application occurs amidst a growing number of submissions for altcoin-based funds, which the SEC has not yet made a decision on. Companies such as Grayscale, 21Shares, and Bitwise have already submitted applications for spot ETFs tracking various cryptocurrencies like XRP, Litecoin, Dogecoin, and Solana.
Last year, spot Bitcoin and Ethereum ETFs drew in billions of dollars in investments. The SEC’s approach to cryptocurrency ETFs has evolved, particularly following Donald Trump’s inauguration earlier this year. In July, the agency put in place regulations permitting in-kind creation and redemptions in crypto ETFs for authorized participants. According to Bloomberg, as of August 28, the SEC was reviewing over 90 applications focused on cryptocurrencies.
If approved, this ETF would not mark Amplify’s first foray into crypto-based funds. The company has previously launched a fund that invests in stocks of firms engaged in the development and application of blockchain technologies, as well as another fund that seeks to generate income through a covered call option strategy linked to Bitcoin’s price return.
More Read
This is not investment advice!
