SEC Filing Puts 21Shares XRP ETF Back in Focus The SEC has published an 8-K filing involving the 21Shares XRP ETF. The filing details an agreement allowing 21Shares to use the FTSE ripple:native Index. That index provides the reference price for the fund’s XRP exposure. This does not represent a new ETF approval or a fresh market launch. The fund has already traded on Cboe BZX since December 11, 2025. Its purpose is to track XRP’s price through direct holdings of the cryptocurrency. Bank of New York Mellon and Coinbase provide custody services for the fund. By Aug. 26, 2026, the ETF had accumulated roughly $149.67 million in net assets.

SEC SUBPOENAS BANKS OVER SITUATIONAL AWARENESS TRADING The SEC has subpoenaed major Wall Street banks for information tied to AI-focused hedge fund Situational Awareness, per NYT. Regulators are seeking details on the timing of the fund’s trades, its leverage and communications with lenders after the fund nearly imploded last month. Situational Awareness managed more than $30B at its peak and borrowed tens of billions more, with Bank of America, Citi, Goldman Sachs and JPMorgan among its major counterparties. After leveraged AI bets moved sharply against the fund, it was forced to sell most of its stock portfolio to Citadel at a discount. The inquiry is still at an early stage, and the fund has not been accused of wrongdoing.

SEC PROBES SITUATIONAL AWARENESS AFTER NEAR-COLLAPSE The SEC has subpoenaed major Wall Street banks for information on trades and leverage tied to AI-focused hedge fund Situational Awareness, per NYT. The fund, founded by former OpenAI researcher Leopold Aschenbrenner, managed more than $30B at its peak and borrowed tens of billions more. Regulators are seeking details on the timing of trades and communications with lenders after the fund suffered a sharp drawdown last month and was forced to sell most of its stock portfolio to Citadel at a discount. The investigation is still in its early stages, and the fund has not been accused of wrongdoing.