灰度文件将XRP Trust转换为spot ETF，为更广泛的XRP采用铺平了道路

纽约证券交易所ARCA已正式向SEC提交了一项提案，要求将Grayscale的XRP信托转换为现场ETF。

NYSE Arca has officially submitted a proposal to the U.S. Securities and Exchange Commission (SEC) for the conversion of Grayscale’s XRP Trust into a spot exchange-traded fund (ETF). This filing would enable the $16.1 billion trust to trade directly on NYSE Arca, making cryptocurrency investments more accessible to investors in the United States without requiring them to hold the digital asset.

纽约证券交易所ARCA已正式向美国证券交易委员会（SEC）提交了一项提案，以将Grayscale的XRP Trust转换为现货交易所交易基金（ETF）。该文件将使161亿美元的信托能够直接在NYSE ARCA上进行交易，从而使美国的投资者更容易获得加密货币投资，而无需他们持有数字资产。

The trust's operational mechanism ensures both security and compliance. Coinbase Custody Trust Company will safeguard the cryptocurrency by storing it in cold wallets utilizing a distributed vault system that is impenetrable.

信托的运营机制可确保安全性和合规性。 Coinbase监护信托公司将通过使用无法穿透的分布式保险库系统将其存储在冷钱包中来保护该加密货币。

Moreover, pricing data will be collected from the CoinDesk XRP Index, which aggregates data from prominent exchanges Coinbase, Kraken, and Bitstamp. This arrangement aims to prevent manipulation and ensure fair, transparent, and unmanipulated prices.

此外，将从Coindesk XRP索引收集定价数据，该索引从突出交换Coinbase，Kraken和Bitstamp汇总了数据。这种安排旨在防止操纵并确保价格公平，透明和未经操纵的价格。

The trust will also provide intraday indicative values every 15 seconds, Monday through Friday, from 4:00 AM ET to 8:00 PM ET. In addition to enhancing market integrity, both NYSE Arca and FINRA will continuously monitor trades to detect any manipulation or irregularities.

该信托还将每15秒（星期一至周五）从美国东部时间上午4:00到美国东部时间8:00。除了提高市场完整性外，纽约证券交易所ARCA和FINRA都将不断监视交易以检测任何操纵或不规则性。

The proposed ETF boasts institutional-scale infrastructure for investing in the Ripple cryptocurrency. Delaware Trust Company will serve as the trustee, while BNY Mellon will handle the transfer of units. A minimum creation and redemption unit of 10,000 units ensures smooth market operations. The net asset value (NAV) will be calculated daily to enhance transparency.

拟议的ETF拥有用于投资波纹加密货币的机构规模的基础设施。特拉华信托公司将担任受托人，而BNY Mellon将处理单位的转移。最低创建和赎回单位10,000个单位可确保市场运营平稳。净资产价值（NAV）将每天计算以提高透明度。

The ETF's composition tracks the price of XRP in the market, excluding fees and expenses. It utilizes the same creation and redemption method, which involves cash. This eliminates the need for investors to directly handle XRP, simplifying regulatory compliance.

ETF的组成跟踪市场上XRP的价格，不包括费用和支出。它利用涉及现金的相同创建和赎回方法。这消除了投资者直接处理XRP的需求，从而简化了监管合规性。

Market makers engaged by the trust are also subject to stringent policies designed to prevent the abuse of inside information. The SEC has an initial period of 45 days, which may be further extended by 90 days, to review the application. Public comments will be invited shortly, enabling stakeholders to voice their perspectives on this historic development.

信托基金参与的做市商还受到旨在防止滥用内部信息的严格政策。 SEC的初始期限为45天，可以将其进一步扩展到90天，以审查申请。公众评论将很快邀请，使利益相关者能够对这一历史发展的看法。

The SEC has 45 days to make an initial decision, which may be extended up to 90 days. The clock starts ticking once this hits the Federal Register. 9/21

SEC有45天的初步决定，可以延长到90天。一旦登陆联邦公报，时钟就开始滴答作响。 9/21

Grayscale's ETF application marks a significant step toward the token's integration into traditional finance. If approved, it could pave the way for increased XRP adoption, enhancing the token's exposure and practical utility among institutional and retail participants alike.

Grayscale的ETF应用程序标志着代币融入传统金融的重要一步。如果获得批准，它可能为增加XRP采用铺平道路，从而增强了代币的机构和零售参与者的实用性。

While the precedent set by other crypto spot ETFs lends credibility to this application, the unique attributes of the XRP market may provide this project with an inherent advantage. The fate of Grayscale's XRP ETF now lies in the hands of the SEC, a decision that has the potential to reshape the landscape of XRP investments in the United States.

尽管其他加密货币ETF设定的先例使该应用程序具有信誉，但XRP市场的独特属性可能会为该项目提供固有的优势。 Grayscale XRP ETF的命运现在掌握在SEC手中，这一决定有可能重塑美国XRP投资的景观。