Grayscale Seeks SEC Approval To Convert XRP Trust Into Exchange-Traded Fund
Posted On January 30, 2025
Grayscale Investments has submitted a proposal to convert its XRP (CRYPTO: XRP) Trust into an exchange-traded fund at the New York Stock Exchange.
The move comes as part of a broader effort by asset managers to introduce regulated investment vehicles for digital assets.
If the SEC grants approval, the Grayscale XRP Trust, currently holding approximately $16.1 million in assets, would transition into an ETF.
Grayscale argues that converting the trust into an ETF would enhance accessibility while ensuring compliance with regulatory standards under a national securities exchange.
The fund is designed to reflect XRP’s market value while deducting operational fees.
Assets associated with the trust are securely held by Coinbase Custody Trust …
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