News
by BSCN
January 31, 2025
If approved, the ETF would provide regulated exposure to XRP, allowing institutional investors to enter the market without holding the asset directly.
Grayscale Investments officially filed to convert its Grayscale XRP Trust into a spot exchange-traded fund (ETF) at the New York Stock Exchange (NYSE). If approved, the trust—currently holding $16.1 million in assets—will transition into a fully regulated investment vehicle for XRP.
This move is part of Grayscale’s broader push to bring more crypto-based ETFs to market, following its recent applications for Litecoin and Solana ETFs.
Grayscale's latest 19b-4 filing outlines key details about the proposed XRP ETF:
Coinbase Custody Trust will act as the fund’s custodian, ensuring secure storage of XRP.
BNY Mellon Asset Servicing will serve as the transfer agent.
The ETF will be listed on NYSE Arca, pending regulatory approval.
This structured approach aims to address past regulatory concerns about custody, compliance, and market surveillance—potentially improving the chances of SEC approval.
Grayscale's XRP ETF, if approved, would:
Provide regulated exposure to XRP for traditional investors.
Increase institutional adoption of the token.
Boost liquidity and price stability in the XRP market.
Grayscale’s filing comes at a time when the U.S. Securities and Exchange Commission (SEC) is experiencing major shifts. The recent departure of former SEC Chair Gary Gensler and the appointment of crypto-friendly figures under President Donald Trump’s administration have sparked optimism about regulatory changes.
The SEC approved spot Bitcoin and Ethereum ETFs last year, paving the way for other cryptocurrencies like XRP, Solana, and Litecoin to receive similar treatment. With a new crypto task force led by SEC Commissioner Hester Peirce, the regulatory agency is now focusing on clear guidelines for digital assets, registration paths, and enforcement priorities.
Grayscale is not alone in its efforts to expand the crypto ETF market. CoinShares, Bitwise, ProShares, WisdomTree, and REX Shares have all submitted filings for XRP-based ETFs, signaling strong institutional interest in the token.
Meanwhile, the SEC’s recent lack of immediate action on the Solana ETF filing suggests a more detailed review process. However, with the new administration’s pro-crypto stance, analysts expect a wave of approvals for additional spot crypto ETFs in the coming months.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCN. The information provided in this article is for educational and entertainment purposes only and should not be construed as investment advice, or advice of any kind. BSCN assumes no responsibility for any investment decisions made based on the information provided in this article. If you believe that the article should be amended, please reach out to the BSCN team by emailing [email protected].
Latest News
13h : 44m ago
Weekly Article Recap: 2/03-2/07
February 7, 2025
POPCAT Memecoin Review: Analysis and Prospects
February 7, 2025
Ondo Finance’s New Blockchain: What is Ondo Chain
February 7, 2025
Everything You Need to Know About Analog's Official Launch
February 7, 2025
Telegram Meets AI Agents: TheOpenLayer Partners with NPC Team
February 7, 2025
Donald Trump-Backed World Liberty Financial Plans to Create "Strategic Reserve"
February 7, 2025
When Will Pi Launch Open Network Mainnet?
February 7, 2025
Cboe BZX Files for Multiple Spot XRP ETFs with SEC: What You Need to Know