Amplify Investments filed a prospectus for an XRP monthly option income exchange-traded fund with the U.S. Securities and Exchange Commission on Friday.
“The Amplify XRP [ ]% Monthly Option Income ETF seeks to balance high income and capital appreciation through investment exposure to the price return of XRP and a covered call strategy,” the investment manager said in the prospectus.
Amplify’s filing for the right to issue an option income ETF —funds that aim to generate investor income on a monthly basis via an options strategy— comes as the SEC faces a backlog of altcoin-based funds it has yet to decide on. Many firms, including Grayscale, 21Shares, and Bitwise, have filed to list spot ETFs that track tokens such as XRP, Litecoin, Dogecoin, and Solana.
Spot Bitcoin and Ethereum ETFs have attracted billions of dollars in investment capital over the past year.
The SEC’s position regarding crypto ETFs has changed significantly since President Trump took office earlier this year. In July, the agency voted to approve orders to allow in-kind creations and redemptions by authorized participants for crypto ETFs. As of Aug. 28, Bloomberg estimates there are over 90 crypto-related filings or applications awaiting SEC review.
If approved, this would not be Amplify’s first crypto-related ETF. The investment manager has also issued a fund that invests “in the equity securities of companies actively involved in the development and utilization of blockchain technologies” and another that seeks to generate “income through a covered call strategy tied to the investment exposure to the price return of Bitcoin.”
Amplify manages $12.6 billion in assets across all its ETFs, according to the company’s website.
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