#XRPETFIncoming? Grayscale joins Bitwise, Canary Funds, WisdomTree, and 21Shares, which have already submitted applications for XRP-Spot ETFs.

Grayscale is a significant player in the crypto-spot ETF space. In August 2023, Grayscale successfully appealed the SEC decision to deny its request to convert the Grayscale Bitcoin Trust into a BTC-Spot ETF. This victory helped pave the way for the US bitcoin (BTC)-spot ETF market, which has seen total net inflows of $39,862 million since its launch on January 11, 2024.

The latest XRP-Spot ETF filing reflects optimism that the SEC may withdraw its appeal in the Ripple case. On January 15, 2025, the SEC filed its appeal-related preliminary brief challenging the programmatic sales of XRP decision.