Grayscale Files to Convert Its XRP Trust into an XRP ETF, Bringing the Total Number of XRP ETF Applicants to 5

With the move, Grayscale is joining Bitwise, WisdomTree, 21Shares and Canary Capital as the companies that are currently vying to launch an XRP ETF in the United States market.

Crypto asset management giant Grayscale has filed to convert its Grayscale XRP Trust into an XRP ETF, adding to the total number of XRP ETF applicants and bringing the grand total to 5.

Update: @NYSE & @Grayscale have filed to convert Grayscale's XRP trust into an ETF. The trust currently has ~$16 mln in assets.

Grayscale is now joining Bitwise, WisdomTree, 21Shares and Canary Capital in the race to launch an XRP ETF in the United States market.

An XRP ETF (exchange-traded fund) would serve as an alternative method for investors to gain exposure to XRP as an investment, eliminating the need to use cryptocurrency exchanges or handle private keys. Instead, investors would be able to access XRP as an investment through their brokerage.

In a recent interview with Bloomberg, Ripple president Monica Long stated that she expects XRP to be the next crypto asset to receive ETFs in the United States, and expressed optimism about such a product being approved in 2025.

Ripple President Monica Long expects to see their new stablecoin RLUSD on more platforms "imminently" and says we will see an XRP ETF soon

Could XRP ETF approval boost the XRP price?

XRP investors are naturally bullish on the prospect of an XRP ETF, considering the massive boost received by Bitcoin after the first spot Bitcoin ETFs were allowed on the U.S. market in early 2024.

While it is not guaranteed that the SEC will opt to approve XRP ETFs in the short to mid term, an approval seems likely given the SEC's expected crypto-friendly shift as a result of the Trump administration.

Our XRP price prediction algorithm projects XRP to continue its bullish trend in 2025, forecasting XRP to reach a peak of $4.75 during the year. This would mark a 53% increase from the current XRP price.