Amplify's XRP Monthly Option Income ETF Filing

On Friday, Amplify Investments filed a prospectus for an XRP monthly option income exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The Amplify XRP Monthly Option Income ETF aims to balance high income and capital appreciation through exposure to the price return of XRP and a covered call strategy. This filing comes at a time when the SEC is processing a backlog of applications for altcoin-based funds. Various firms, including Grayscale, 21Shares, and Bitwise, have also proposed spot ETFs that track tokens like XRP, Litecoin, Dogecoin, and Solana. In the past year, spot Bitcoin and Ethereum ETFs have attracted billions in investments. The SEC's stance on crypto ETFs has evolved significantly, especially with new leadership since President Trump's term began earlier this year. In July, the agency approved orders allowing in-kind creations and redemptions by authorized participants for crypto ETFs. As of late August, Bloomberg estimates that over 90 crypto-related filings are awaiting SEC review. If approved, this will not be Amplify's first venture into crypto ETFs. They have previously launched funds focused on equity securities of blockchain technology companies and those generating income through a covered call strategy tied to Bitcoin's price returns. Amplify currently manages $12.6 billion in assets across its ETFs. Disclaimer: The Block is an independent media outlet providing news, research, and data. Foresight Ventures is a majority investor in The Block and invests in other companies in the crypto space. The Block operates independently to deliver objective information about the crypto industry. This article is for informational purposes only and should not be construed as legal or financial advice.