Roundhill Investments filed an amended registration statement for an XRP exchange-traded fund that could launch as soon as Jan. 29, offering income generation rather than spot exposure to the altcoin. The fund tracks performance of other XRP ETFs rather than investing directly in the digital asset, according to the filing. Roundhill filed a post-effective amendment for its XRP Covered Call Strategy ETF, with the filing intended to delay effectiveness until Jan. 29. The fund differs from spot XRP ETFs by seeking to provide current income and exposure to price returns of ETFs that hold XRP and trade on U.S.-regulated exchanges.
The prospectus revealed the fund will use a synthetic covered call strategy to generate income. The fund can track both spot XRP ETFs and funds that gain exposure through exchange-traded futures contracts using XRP as the reference asset. Crypto analyst Richard stated in a post on X that Roundhill’s filing confirms XRP has been approved as an underlying asset for regulated derivatives. “This means that XRP-linked options are permissible inside an ETF wrapper and that risk committees, counterparties, and clearing structures are already signed off on,” Richard wrote.
Richard noted that covered-call ETFs typically emerge only after an asset gains legal and structural acceptance. He added that the filing’s purpose to delay effectiveness indicates “the product structure is complete, that approval is not the issue, and that timing is the variable.” The analyst explained Roundhill aims to monetize XRP’s volatility rather than capture upside, distinguishing it from spot XRP ETFs despite involving the same asset. Richard characterized this as “derivatives validation, not price discovery,” which he said occurs only when an asset receives institutional clearance.
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