Recently, there have been significant developments in the digital asset space! The well-known asset management giant Franklin Templeton submitted a revised S-1 filing for an XRP Spot ETF to the SEC, and this news has attracted considerable attention. Bloomberg's ETF analyst James Seyffart disclosed this progress at the first opportunity, which could be a noteworthy signal for those who follow XRP. Speaking of the S-1 amendment application, it is actually the process of communication back and forth between the issuer and the regulatory agency. Simply put, the S-1 is the registration document that a company must submit before listing securities on a U.S. exchange. What does submitting a revised version mean? It indicates that the issuer is adjusting the plan based on feedback from the SEC and adding more detailed information, which is an essential step in launching new financial products. For the cryptocurrency market, every such revision feels like a step forward. Although the final approval still depends on the SEC's attitude, it at least shows that both parties are actively advancing the dialogue. It is important to note that once the Spot ETF is approved, it means traditional investors will be able to allocate relevant assets more conveniently, which is a significant matter for XRP's integration into the mainstream financial system. Of course, the entire approval process has never been smooth sailing. Looking at the application history of other cryptocurrency ETFs, back-and-forth revisions and supplementary materials are the norm. Franklin Templeton's submission of the revised version at least indicates that they are taking regulatory requirements seriously and are continuously pushing for the project's implementation. Next, it remains to be seen what kind of response the SEC will give, as this game regarding the XRP ETF continues.

Ripple's latest funding round? Pretty revealing, honestly. Here's what it actually shows us: the real business value is stacking up in Ripple Labs itself, not flowing into $XRP holders. Think about it—when institutional money pours into the company through equity rounds, that capital builds Ripple's infrastructure, partnerships, and legal war chest. Meanwhile, $XRP just sits there as a settlement tool. The disconnect is wild. Ripple secures hundreds of millions in funding, valuation climbs, investors get equity upside. But XRP? It's treated more like a utility token that *might* see adoption benefits down the road. Maybe. This funding structure basically confirms what critics have been saying: Ripple operates like a traditional fintech company that happens to have a crypto asset, rather than a decentralized network where value accrues to token holders. The business model captures value through enterprise licensing and payment solutions—XRP just enables the tech. So where does that leave retail XRP holders? Holding an asset whose success is loosely tied to corporate growth they don't benefit from directly. The irony isn't lost here.