Amplify submits XRP option income ETF application to US SEC

Huobi HTX reported that investment management company Amplify Investments submitted a preliminary prospectus of the XRP monthly options and income exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC) on August 29. The fund aims to balance high returns with capital appreciation by investing in XRP price returns and combining a backup call option strategy. At present, the SEC still has a backlog of large amounts of crypto asset ETF applications pending review, including spot ETF proposals such as XRP, Litecoin, Dogecoin and Solana proposed by institutions such as Grayscale, 21Shares and Bitwise. Since the Trump administration took office, the SEC has changed significantly, and in July approved rules to authorize participants to create and redeem crypto ETFs in physical form. As of August 28, Bloomberg data showed that about 90 encryption-related applications were awaiting review by the SEC. If approved, this is not Amplify's first encrypted ETF. The company also manages a fund investing in "stakes in blockchain technology-related companies" and another backup call option earnings fund based on Bitcoin price returns. According to the official website data, Amplify currently manages assets of US$12.6 billion.