Crypto Fund Behemoth Grayscale Investments filed a request to the Securities and Exchange Commission (SEC) to convert his Trust XRP into the Stock Exchange (ETF), which will be listed on the New York Stock Exchange (NYSE).
The existing product works as a statutory Delaware trust, managing more than $ 16 million XRP on Friday. The proposed ETF would continue to maintain XRP as its main asset and follow its performance on the basis of prices, adjusted for operating costs, offering investors a direct link with XRP performance.
In addition to gray levels, companies like Coinshares and Bitwise have also submitted requests for FNB based on XRP, indicating an increasing institutional appetite for structured investment products in XRP.
Earlier in January, the president of Ripple Labs, Monica Long, pointed out that an ETF XRP could “soon be a reality” under the new Trump administration, which promised to bring cryptographic innovation to the United States and support local businesses.
Meanwhile, trading volumes on XRP native applications have increased because it is favorable to investors. The exchange volumes on the decentralized XRP (DEX) exchange crossed the $ 400 million mark in January to cross the billions of dollars for the first time since the launch of its automated market function in May – A feat that says that some have helped make 2024 a “monumental” year for the token.
