Crypto fund behemoth Grayscale Investments has filed an application with the Securities and Exchange Commission (SEC) to convert its XRP Trust into an exchange-traded fund (ETF), which will listed on the New York Stock Exchange (NYSE).
The existing product operates as a Delaware statutory trust, managing over $16 million XRP as of Friday. The proposed ETF would continue to hold XRP as its primary asset and track its performance on a price return basis, adjusted for operational fees, providing investors with a direct link to XRP’s performance.
Besides Grayscale, firms like CoinShares and Bitwise have also submitted applications for XRP-based ETFs, indicating a growing institutional appetite for structured investment products in XRP.
Earlier in January, Ripple Labs president Monica Long remarked an XRP ETF could “soon be a reality” under the new Trump administration, one that has promised to bring crypto innovation back to the U.S….
