"Amplify applies for an XRP options ETF…generating returns without holding the spot"

U.S. asset manager Amplify Investments filed with the U.S. Securities and Exchange Commission (SEC) for an options-strategy ETF based on the price of XRP. The product is structured to generate returns through derivatives without directly holding XRP.

On the 30th, according to crypto media CoinGapber, Amplify submitted a registration for the 'Amplify XRP-Monthly Option Income ETF' to the SEC. If approved, it is expected to trade on the Cboe BZX market in November.

Amplify stated, "The product will invest at least 80% of ETF assets in options and ETF holdings linked to the price of XRP, and allocate the remainder to U.S. Treasuries and cash equivalents." This is an options- and derivatives-based structure that does not require directly holding XRP, thereby sidestepping the burden of spot custody.

Meanwhile, there are currently 16 XRP ETF filings in the U.S., and major asset managers such as Grayscale and 21Shares are also awaiting approval for spot ETFs. Bloomberg ETF analyst James Seyffart analyzed, "With the key deadlines approaching in October, the SEC is likely to make a decision."