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    Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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Just In: Grayscale Files for Spot XRP ETF on NYSE

Story Highlights
  • Grayscale has filed to convert its XRP Trust into a spot XRP ETF, to be listed on the NYSE. ย 

  • This follows Grayscale's recent filings for Litecoin and Solana ETFs, and the launch of its Bitcoin Miners ETF.

  • Grayscale is the seventh asset manager seeking to launch an XRP ETF, amidst a surge in ETF applications.

In a recent development, asset manager grayscale Investment has filed a 19b-4 form with the NYSE to launch an XRP ETF. The company aims to convert its XRP Trust into an exchange-traded fund (ETF), which will be listed and traded on the NYSE.

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

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

It’s a Growing Trend!

By filing for an XRP ETF, Grayscale joins asset managers like Bitwise and WisdomTree in the race to issue an exchange-traded fund. This filing makes Grayscale the seventh asset manager to submit a proposal for an XRP ETF, as part of a wave of ETF applications since Donald Trump return to office and Gary Gensler’s exit from the SEC.

XRP Trustโ€™s Strong Performance

Grayscaleโ€™s XRP Trust has been performing well this year. In January, the trust saw a 300% increase, according to Nasdaq, driven by speculation that an XRP ETF might launch within the next 12 months.

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The momentum behind crypto ETFs is undeniable, and Grayscale has proved it once again.

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