Altcoin

Grayscale XRP ETF Has Now Filed With the SEC

2 mins mins
Grayscale XRP ETF Has Now Filed With the SEC

Key Points:

  • Grayscale has filed with the SEC to convert its XRP Trust into a spot ETF.
  • The Grayscale XRP ETF follows increasing institutional interest in crypto ETFs, with firms like CoinShares and Bitwise also pursuing similar products.

NYSE Arca, a subsidiary of the New York Stock Exchange, has filed an application with the U.S. Securities and Exchange Commission (SEC) to convert the Grayscale XRP Trust into a spot exchange-traded fund (ETF).

Read more: Grayscale Litecoin ETF Now Seeking Approval as ETF Race Intensifies 

Grayscale XRP ETF Seeks SEC Approval

The filing, submitted on January 30, aims to provide investors with easier access to XRP without requiring direct asset purchases or storage.

According to the filing, Coinbase Custody Trust Company, LLC will serve as the official custodian, while BNY Mellon Asset Servicing will handle administrative and transfer duties. Grayscale argues that converting the trust into Grayscale XRP ETF would lower costs and simplify access for investors.

The Grayscale XRP ETF comes as institutional interest in crypto-based investment products continues to grow. Grayscale is among several asset managers seeking to launch XRP ETFs, joining firms such as CoinShares, WisdomTree, ProShares, REX Shares, and Bitwise.

SEC’s Evolving Stance on Crypto ETFs

The surge in ETF applications follows the recent inauguration of Donald Trump as the 47th U.S. president, whose pro-crypto stance has encouraged investment firms to expand digital asset offerings. Grayscale recently filed for Solana and Litecoin ETFs and launched a Bitcoin Miners ETF aimed at providing exposure to publicly traded BTC mining companies.

Meanwhile, under interim Chair Mark Uyeda, the SEC has established a task force to create a clearer regulatory framework for cryptocurrencies. While the agency has previously approved ETFs tied to Bitcoin and Ethereum, its classification of most digital assets as securities has limited crypto-related ETF options.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Rate this post
Follow us on Google News

Donald Trump

Grayscale

Grayscale XRP ETF

Avatar of Harold

Harold

31 January 2025, 02:36:00 GMT +0000

With a passion for untangling the complexities of the financial world, I’ve spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. “The financial markets are a fascinating puzzle,” I often say, “and I love helping people make sense of them.” That’s what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Other Posts: