Grayscale’s XRP Trust Could Become Spot ETF Pending SEC Approval
The post Grayscale’s XRP Trust Could Become Spot ETF Pending SEC Approval appeared on BitcoinEthereumNews.com.
Grayscale Investments has filed an application with the New York Stock Exchange (NYSE) to convert its existing XRP Trust into a spot XRP exchange-traded fund (ETF). XRP ETF Conversion Plans In its filing, Grayscale outlined plans to list shares of the Grayscale XRP Trust on NYSE Arca. The move aims to provide investors with streamlined exposure to XRP without requiring direct custody of the asset. The company claimed that an ETF structure would improve investor access, enhance liquidity, and bring the product under national securities exchange rules. The Grayscale XRP Trust currently holds approximately $16.1 million in assets under management. Coinbase Custody Trust Company is expected to continue serving as the custodian for the underlying XRP holdings. Increasing Trend of XRP ETF Applications Grayscale is not alone in pursuing an XRP ETF. Competitors such as CoinShares, WisdomTree, and Bitwise have also submitted similar applications to the U.S. Securities and Exchange Commission (SEC). The ETF conversion would align XRP with other digital assets that have recently gained institutional recognition. The wave of filings suggests a growing appetite among asset managers to offer regulated investment products tied to digital assets. Expanding Crypto Investment Products The latest filing follows Grayscale’s broader push to expand its crypto investment offerings. On January 30, the firm launched the Grayscale Bitcoin Miners ETF (MNRS), which invests in publicly traded Bitcoin mining companies. Additionally, Grayscale has filed for ETFs tied to Solana and Litecoin, signaling its commitment to diversifying its digital asset portfolio. If approved, Grayscale’s XRP ETF would offer a regulated alternative for investors seeking exposure to XRP without navigating the complexities of direct ownership. The firm emphasizes that the ETF structure could enhance investor protection and operational transparency. Changing Regulatory Landscape The regulatory environment for digital assets in the U.S. has shifted dramatically over the past…
Filed under: News - @ February 2, 2025 4:18 am