Key Takeaways
- Grayscale has submitted a filing to list an XRP ETF on the NYSE Arca, aiming to convert its existing XRP Trust into a tradable fund.
- The move follows other XRP ETF applications from asset managers like CoinShares and Bitwise.
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Grayscale has filed an application with the SEC to convert its XRP Trust into an exchange-traded fund on NYSE Arca, joining other asset managers seeking to launch XRP investment products.
According to the filing, the Grayscale XRP Trust currently manages approximately $16.1 million in assets and operates as a Delaware statutory trust.
Grayscale argues that converting the trust into an exchange-traded product (ETP) would allow investors broader access to XRP while benefiting from the oversight of a national securities exchange.
The trust is structured to track XRP’s market price, minus fees, with assets held in custody by Coinbase Custody Trust Company.
Grayscale’s filing for an XRP ETF comes just a week after the firm submitted applications for Solana and Litecoin ETFs
This filing is part of a larger wave of XRP ETF applications, with CoinShares and Bitwise also submitting proposals to the SEC.
XRP is trading flat at $3.12, showing no immediate reaction to the news.
The third-largest crypto asset by market cap, with a valuation just below $180 billion, has held extremely well since reaching its all-time high of $3.40—down only 8%.
This resilience stands in contrast to the rest of the top 100 crypto assets by market cap, many of which have suffered double-digit losses in recent months.
If approved, the ETF would provide investors regulated exposure to XRP without requiring direct ownership or self-custody of the digital asset.
The trust’s conversion to an exchange-traded product would allow broader market access while operating under national securities exchange oversight.
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