NYSE Arca has filed an app with the SEC seeking to turn Grayscale’s XRP Trust into an exchange-traded account.
If approved, Coinbase Custody Trust Company, LLC may offer as the steward. At the same time, BNY Mellon Asset Servicing may work as the firm’s move agent, according to a 19b-4 filing , submitted Thursday.
In response to the firm’s escalating demand for digital asset-based funding options, Grayscale’s XRP Trust is one of several investment vehicles that has been converted or is currently converting.  ,
The agency’s successful conversions of its Bitcoin Trust to a place Fund on January 11, 2024, and its Ethereum Trust to a place ETF on July 23, 2024 follow.
Grayscale has also sought SEC approval to convert its Digital Large Cap Fund —holding Bitcoin, Ethereum, Solana, XRP, and Avalanche—into a diversified multi-crypto ETF.  ,
In January 2025, the strong rebalanced the bank, increasing Cryptocurrency and Ethereum’s communicate to 90 % while replacing Avalanche with Cardano.
Following Donald Trump’s subsequent political campaign, manufacturers are rushing to get approval for fresh crypto-based ETFs. Trump promised to uphold US laws while making the nation the bitcoin capital of the world while campaigning.
Grayscale’s Trust holds about$ 16.1 million in assets under control. According to the filing, its shares are held by British investment accounts looking to buy XRP “without the difficulty and cost of purchasing the property directly.”  ,
ETFs are open-end resources that generate stocks based on investor demand, while purchase trusts are closed-end funds with a set number of shares.  ,
Stocks are usually better investment options to meet the demand for XRP, but this depends on the preferences and market conditions of the investors.
In any case, XRP has proven to be particularly popular with investors in recent months, with the gift almost surpassing its all-time large of$ 3.40 earlier this month. XRP is trading at$ 3.13, up more than 525 % in the past year.
The start of the widely-known area Bitcoin and Ethereum ETFs from major financial institutions, including BlackRock and Fidelity, has boosted investor interest in online resources in recent months.
Asset managers quite as Rex Shares, Canary Capital, and 21 Stock have applied to release XRP exchange-traded resources in recent months. Lenders have also refiled a number of recently rejected Solana ETF uses earlier this month.  ,
The filings form part of a broader crypto ETF boom under the crypto-friendly Trump administration, with issuers also applying to launch funds tracking the prices of Chainlink, Cardano, and Polkadot, as well as newer meme coins such as Official Trump ( TRUMP ) and BONK.
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