Key Takeaways:
- Grayscale has filed with the SEC to convert its XRP Trust into an ETF, aiming for a listing on the NYSE.
- Other firms, including CoinShares and Bitwise, have also applied for XRP-based ETFs, signaling growing institutional interest.
- XRP ecosystem activity is surging, with swap volumes on its DEX surpassing $400M in January and total AMM swap volumes exceeding $1B.
Grayscale Investments has filed an application with the U.S. Securities and Exchange Commission (SEC) to convert its XRP Trust into an exchange-traded fund (ETF), aiming for a listing on the New York Stock Exchange (NYSE).
Currently structured as a Delaware statutory trust, the XRP Trust holds over $16 million in XRP.
Grayscale XRP Trust is open to eligible accredited investors seeking exposure to $XRP, which powers the XRP ledger, a distributed network used for cross-border payments.
— Grayscale (@Grayscale) January 30, 2025
Learn more about Grayscale XRP Trust, see important disclosures, or reach out to us: https://t.co/2gq5w3Fbpj pic.twitter.com/34fm3I1WNI
If approved, the ETF would allow investors to gain regulated exposure to XRP, tracking its price while accounting for operational fees.
Grayscale’s move reflects growing institutional interest in XRP investment products, as firms like CoinShares and Bitwise have also submitted applications for XRP-based ETFs.
This development follows comments from Ripple Labs president Monica Long, who suggested that an XRP ETF could soon become a reality under a more crypto-friendly Trump administration.
Decentralized exchange (DEX) swap volumes on the XRP Ledger exceeded $400 million in January, pushing total swap volumes past $1 billion for the first time since the launch of its automated market maker (AMM) feature in May 2023.
These milestones highlight XRP’s increasing adoption and suggest that 2024 could be a significant year for the token’s ecosystem and market growth.