Just In: Grayscale Files For Spot XRP ETF

The post Just In: Grayscale Files For Spot XRP ETF appeared first on Coinpedia Fintech News

In a recent development, Asset Manager Grayscale has filed a 19b-4 form through the NYSE to launch an XRP ETF. It is looking to convert its XRP Trust into an ETF, which will be listed and traded on the NYSE.

“Grayscale Investments has filed with the New York Stock Exchange (NYSE) to offer a spot XRP exchange-traded fund (ETF). This filing aims to convert Grayscale’s existing XRP Trust into an ETF, allowing shares to be listed and traded on the NYSE,” the filing read.

This filing comes shortly after the company filed for Litecoin and Solana ETFs. Additionally, Grayscale recently introduced its Bitcoin Miners ETF, a new fund providing exposure to publicly traded Bitcoin mining companies under the ticker MNRS.

Grayscale joins asset managers, including Bitwise and WisdomTree, as prospective issuers of the exchange-traded fund. With its XRP ETF filing, Grayscale becomes the seventh asset manager to submit a proposal for such a fund. This filing is part of a wave of ETF applications submitted to the SEC following Donald Trump’s return to office and Gary Gensler’s exit from the Commission.

Notably, the firm already has an XRP Trust that has been flourishing throughout this year so far. At the start of January, the trust jumped 300%, according to Nasdaq, on speculation of a potential XRP ETF over the next 12 months.