#XRPETFIncoming? The filing by nyce to convert grayscale’s xrp trust into a spot eft is indeed a significant development for xrp and broader cryptocurrency market. If approved it could provide a more accessible and regulated way for institutional and retail investors to gain exposure to xrp without directly holding the asset. This could potentially drive increased adoption and liquidity for xrp.

However, the approval process by SEC is a critical factor. The SEC has historically been cautious about approving cryptocurrency related EFTs , particularly spot EFTs , due to concerns about market manipulation, custody and investor protection. The SEC’s stance on xrp has also been complicated by the ongoing lawsuit against ripple labs which has created regulatory uncertainty around the asset.