Grayscale Seeks SEC Approval to Convert XRP Trust Into ETF
Grayscale Investments has officially filed with the U.S. Securities and Exchange Commission (SEC) to transform its XRP Trust into an exchange-traded fund (ETF), marking another step toward institutional adoption of XRP. If approved, the fund will be listed on the New York Stock Exchange (NYSE).
Currently structured as a Delaware statutory trust, the Grayscale XRP Trust holds over $16 million in XRP as of Friday. The proposed ETF would maintain XRP as its core asset, tracking its price movements on a return basis while factoring in operational expenses. This conversion would offer investors a more regulated and accessible avenue for XRP exposure.
Grayscale isn’t alone in the race for an XRP ETF—firms like CoinShares and Bitwise have also submitted filings, reflecting increasing institutional demand for structured investment vehicles tied to XRP.
Ripple Labs president Monica Long previously hinted that an XRP ETF could become a reality under the Trump administration, which has signaled a more favorable stance on crypto regulation and innovation within the U.S.
Meanwhile, XRP ecosystem activity has surged, with trading volumes on XRP Ledger’s decentralized exchange (DEX) surpassing $400 million in January. This milestone helped push total swap volumes past $1 billion for the first time since the network’s automated market maker feature launched in May—further cementing 2024 as a transformative year for XRP.
