Grayscale has filed with the US SEC to convert its XRP Trust into an ETF on NYSE Arca. With over $16 million under management, it is one of the largest investment vehicles tied to the Ripple token. 🎉
Why an ETF? Well, so that investors can enjoy XRP without the hassle and high costs. Grayscale joins CoinShares, Wisdom Tree, and others who are also eyeing an XRP ETF.
This news came after Donald Trump was inaugurated as the 47th US President. His pro-crypto stance has made many digital companies actively apply for new products.
Amid the XRP legal drama with the SEC, the price of XRP has fallen 0.6% in the last 24 hours. But don't worry, in the last 30 days, XRP has increased by 44.9%! Let's discuss in the comments column!
