#XRPETFIncoming?
The NYSE Arca has submitted an application to Grayscale Investments to convert the company's trust based on the XRP coin (XRP) into a spot ETF. The company did the same earlier with its funds based on Bitcoin and Ethereum.
The company announced the launch of the Grayscale XRP Trust in September 2024. This is a closed fund available exclusively to accredited investors.
According to the official website, the fund's three-month return is 235.24%. At the time of writing, the trust's net asset value (NAV) per share is $61.78, which is close to an all-time high.
The product was marked by rapid growth at the end of 2024. This is due to increased attention to the asset. At the same time, already in January 2025, XRP entered the top 3 cryptocurrencies by capitalization, and its exchange rate renewed its historical maximum.
With the new application, Grayscale Investments became the sixth counterparty in the USA interested in launching a spot XRP-ETF. Applications were also submitted by Bitwise, Canary Capital and WisdomTree, among others.
Note that the asset practically did not react to the news. At the time of writing, XRP is trading just above $3