灰度文件應用程序應用程序將XRP Trust轉換為SPOT ETF，針對受監管的XRP暴露

紐約證券交易所（NYSE）ARCA已正式向美國證券交易委員會（SEC）提出申請，以轉換灰度投資

The New York Stock Exchange (NYSE) Arca has filed an application with the U.S. Securities and Exchange Commission (SEC) to convert Grayscale Investments’ XRP Trust into a spot exchange-traded fund (ETF).

紐約證券交易所（NYSE）ARCA已向美國證券交易委員會（SEC）提出了申請，將Grayscale Investments的XRP Trust轉換為現貨交易所交易基金（ETF）。

If approved, this conversion would mark the first-ever regulated XRP-based ETF in the U.S., enabling institutional and retail investors to gain exposure to XRP without the complexities of directly purchasing and storing the cryptocurrency.

如果獲得批准，此轉換將標誌著美國有史以來第一個受監管的ETF，使機構和散戶投資者能夠獲得XRP的曝光率，而無需直接購買和存儲加密貨幣的複雜性。

Grayscale’s XRP Trust, which currently has about $16.2 million in assets, has offered accredited investors a way to gain exposure to XRP through traditional investment accounts. Unlike direct XRP purchases, which require investors to manage their own digital wallets and navigate blockchain-based transactions, the trust allows investors to trade shares that follow XRP’s price.

Grayscale的XRP Trust目前擁有約1620萬美元的資產，已為認可的投資者提供了通過傳統投資帳戶獲得XRP曝光率的方法。與Direct XRP購買不同，該購買者要求投資者管理自己的數字錢包並導航基於區塊鏈的交易，該信託允許投資者交易遵循XRP價格的股票。

By seeking SEC approval to convert the XRP Trust into an ETF, Grayscale aims to enhance accessibility and liquidity while reducing premiums and discounts that are often associated with traditional trust structures. ETFs, unlike trusts, offer real-time trading on regulated stock exchanges and typically come with lower costs for investors.

通過尋求SEC批准將XRP信託轉換為ETF，灰度旨在提高可訪問性和流動性，同時減少通常與傳統信託結構相關的保費和折扣。與信託不同的ETF提供了有關受管制證券交易所的實時交易，通常對投資者的成本較低。

Should the SEC approve the conversion, the introduction of a spot XRP ETF could have significant implications for both XRP and the wider cryptocurrency market. Here's a closer look at the implications:

如果SEC批准轉換，那麼引入XRP ETF的引入可能會對XRP和更廣泛的加密貨幣市場產生重大影響。這是一個仔細研究的含義：

Bitcoin’s spot ETF approval in January 2024 was a pivotal moment in the crypto industry, enabling mainstream investors to gain exposure to BTC without the technical barriers associated with owning digital assets. Ethereum is also pursuing ETF status, with multiple applications being considered by the SEC.

比特幣在2024年1月獲得的現貨ETF批准是加密行業的關鍵時刻，使主流投資者能夠在沒有與數字資產相關的技術障礙的情況下獲得BTC的敞口。以太坊也在追求ETF狀態，SEC考慮了多個應用程序。

The key distinction between Bitcoin, Ethereum, and XRP lies in the regulatory perception. While Bitcoin and Ethereum have been largely classified as commodities, XRP’s status has been disputed due to its association with Ripple Labs. The SEC has alleged that Ripple sold unregistered securities, though the case has seen varying rulings in recent years.

比特幣，以太坊和XRP之間的關鍵區別在於調節感。儘管比特幣和以太坊在很大程度上被歸類為商品，但由於其與Ripple Labs的關聯，XRP的地位一直存在爭議。 SEC聲稱Ripple出售了未註冊的證券，儘管此案近年來已有不同的裁決。

Despite the legal challenges, XRP remains one of the most widely traded cryptocurrencies, with a current market capitalization of approximately $178 billion and a price of around $3.10 per token.

儘管面臨法律挑戰，但XRP仍然是交易最廣泛的加密貨幣之一，目前的市值約為1780億美元，價格約為3.10美元。

Although the prospect of an XRP ETF is promising, several challenges could affect its approval:

儘管XRP ETF的前景很有希望，但一些挑戰可能會影響其認可：

If approved, an XRP ETF could have a substantial impact on cryptocurrency markets and the broader financial landscape in the U.S. Here's how it could play out:

如果獲得批准，XRP ETF可能會對加密貨幣市場和美國更廣泛的金融景觀產生重大影響，這就是它的作用：

The anticipation of an XRP ETF has already sparked discussions among crypto investors and analysts. Historically, ETF approvals have had a positive impact on asset prices. When Bitcoin ETFs were approved, BTC experienced a significant price rise as institutional capital entered the market.

XRP ETF的預期已經引發了加密投資者和分析師之間的討論。從歷史上看，ETF批准對資產價格產生了積極影響。當批准比特幣ETF時，隨著機構資本進入市場，BTC的價格會大幅上漲。

For XRP, a similar pattern could emerge if an ETF gains approval. Increased demand from institutional investors, combined with the credibility of an SEC-regulated investment vehicle, could drive XRP’s price higher. Moreover, mainstream media attention surrounding the ETF could lead to increased retail investor participation, further enhancing liquidity and market capitalization.

對於XRP，如果ETF獲得批准，則可能會出現類似的模式。機構投資者的需求增加，再加上SEC監管的投資工具的信譽，可能會提高XRP的價格。此外，圍繞ETF的主流媒體關注可能會導致零售投資者的參與增加，從而進一步增強流動性和市值。

Grayscale’s effort to convert its XRP Trust into a spot ETF marks another milestone in the mainstream adoption of cryptocurrencies. This move would not only benefit XRP investors but also set a precedent for other digital assets seeking regulated ETF status.

Grayscale將其XRP信託轉換為現場ETF的努力標誌著主流採用加密貨幣的另一個里程碑。此舉不僅將使XRP投資者受益，而且還為尋求受監管的ETF身份的其他數字資產樹立了先例。

The SEC’s response will be closely observed, as it will indicate the regulatory direction for altcoins in U.S. financial markets. Whether approved or denied, the application highlights the growing demand for institutional-grade cryptocurrency investment products and the continuous evolution of digital asset markets.

SEC的響應將被仔細觀察，因為它將指示美國金融市場中山寨幣的監管方向。無論是批准還是拒絕，該應用程序都強調了對機構加密貨幣投資產品的需求不斷增長，並且數字資產市場的持續發展。

As the regulatory landscape continues to shift, investors and market participants will follow updates on this groundbreaking ETF proposal with great interest.

隨著監管格局的不斷變化，投資者和市場參與者將遵循有關該開創性ETF提案的最新信息，引起了人們的興趣。