Grayscale has officially filed with the New York Stock Exchange to launch a Spot XRP ETF, seeking to convert its Grayscale XRP Trust into a regulated exchange-traded fund.
Grayscale's XRP ETF Filing
Grayscale's latest regulatory filing opens up the possibility for institutional investors to invest in XRP. The XRP Trust, with $16 million in assets, was formed following Judge Analisa Torres' final ruling in the Ripple vs. SEC case. The Spot XRP ETF will remove the need for acquiring and storing the asset.
Growing Interest in Crypto ETFs
Grayscale's pursuit of an XRP ETF comes amid interest from other fund managers. The SEC has previously shown flexibility with Bitcoin and Ethereum ETFs, potentially attracting more institutional investors into XRP, Litecoin, and Solana ETFs.
Future Plans for Grayscale's ETFs
Grayscale’s recent ETF applications align with the growing tendency among companies to seek SEC approval for crypto-linked ETFs. The SEC's decision in the coming weeks will be crucial in determining the acceptance and liquidity of new cryptocurrency investment products.
If approved, Grayscale's XRP and Litecoin ETFs could significantly enhance altcoin market adoption and liquidity.
