Amplify submits application to the US SEC for an XRP Covered Call ETF

Jinse Finance reported that investment management company Amplify Investments submitted a preliminary prospectus for an XRP Monthly Option Income Exchange-Traded Fund (ETF) to the U.S. Securities and Exchange Commission (SEC) on August 29. The fund aims to balance high yield and capital appreciation by investing in XRP price returns combined with a covered call option strategy. Currently, the SEC still has a large backlog of crypto asset ETF applications pending review, including spot ETF proposals for XRP, Litecoin, Dogecoin, and Solana from institutions such as Grayscale, 21Shares, and Bitwise. Since the Trump administration took office, the SEC's stance on crypto ETFs has changed significantly, with rules approved in July allowing authorized participants to create and redeem crypto ETFs in physical form. As of August 28, Bloomberg data shows that there are more than 90 crypto-related applications awaiting SEC review. If approved, this would not be Amplify's first crypto ETF. The company also manages a fund investing in "equity of companies related to blockchain technology" and another covered call option income fund based on Bitcoin price returns. According to its official website, Amplify currently manages assets totaling $12.6 billion.