#XRPETFIncoming?
XRP shows signs of an uptick as asset managers could send a flurry of XRP ETF filings to the SEC next week.The NYSE Arca submitted a 19b-4 for the conversion of Grayscale's XRP Trust to a spot ETF.XRP continues consolidation within a bullish pennant amid a potential 27% rally.
Ripple's XRP is up 2% in the Asian session on Friday following the New York Stock Exchange (NYSE) Arca 19b-4 filing with the US Securities and Exchange Commission (SEC) for the conversion of Grayscale's XRP Trust into a spot ETF. The remittance-based token could see a 27% rally in the coming days as issuers will potentially send a flurry of XRP ETF filings to the SEC next week.
Grayscale to convert XRP Trust to spot XRP ETF
The race for new altcoin ETFs in the United States is gaining traction, with asset managers filing for new products with the SEC.
The NYSE Arca filed a 19b-44 for the conversion of the Grayscale XRP Trust to a spot XRP ETF.
“The Sponsors [...] believe that allowing Shares of the Trust to list and trade on the Exchange as an exchange-traded product (“ETP”) (i.e., converting the Trust to a spot XRP ETP) would provide other investors with a way to invest in XRP on a regulated national securities exchange,” the filing states.
