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Cryptocurrency News Articles

Grayscale Files 19B-4 to Convert Grayscale XRP Trust to a spot XRP ETF

Jan 31, 2025 at 06:30 pm

The proposal arrives during a period when several asset management firms are similarly aiming to secure regulatory approval for XRP-focused funds.

Grayscale Files 19B-4 to Convert Grayscale XRP Trust to a spot XRP ETF

Grayscale files to convert its XRP Trust into a spot XRP ETF

Grayscale, a leading digital currency asset manager, has filed an application with the Securities and Exchange Commission (SEC) to convert its XRP Trust into a spot XRP exchange-traded fund (ETF).

The proposal, if approved, would enable digital holdings to be maintained by a dedicated custodian, ensuring they are stored in a regulated environment that meets institutional standards.

This structure aims to streamline the investment process, allowing both institutional and retail investors to gain exposure to XRP without navigating direct ownership or handling crypto wallets.

The application specifically outlines the blueprint for transforming the existing XRP Trust into a listed product on the New York Stock Exchange (NYSE).

According to the filing, the trust currently manages about $16.1 million in assets and is designed to mirror XRP's market value minus any associated fees.

This conversion would allow the fund's shares to be bought and sold much like traditional stocks, facilitating easier access to the digital asset.

Grayscale's recent activity comes amid a wider scramble by companies looking to introduce crypto-themed ETFs. In particular, other asset managers have also submitted filings to bring XRP-linked products to market, underscoring the heightened interest in this digital asset.

Notably, Ripple's token ranks as the third largest cryptocurrency by market value—reportedly near $180 billion—and is trading around $3.138, marking a modest 8% retreat from its all-time high.

As highlighted by XRPLX analysts, this relatively mild decline stands in contrast to many other major cryptocurrencies, which have suffered more significant losses over the same period.

This announcement follows a series of ETF initiatives from Grayscale, including proposals focused on other digital assets like Solana and Litecoin.

The firm's ongoing efforts highlight a strategic push to diversify offerings and expand pathways for regulated crypto investing.

While there has been no marked change in XRP's price following the filing, market observers are watching closely to see whether a successful ETF launch could broaden adoption and shift overall sentiment.

If approved, the Grayscale XRP ETF would mark another milestone for mainstream acceptance of digital currencies. By converting its trust into an exchange-traded product, Grayscale aims to capture an audience that prefers the familiarity of traditional securities exchanges.

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