On January 31, 2025, Grayscale Investments filed a request with the United States Securities and Exchange Commission (SEC) to convert its Grayscale XRP Trust, valued at $16.1 million, into an exchange-traded fund (ETF) on the New York Stock Exchange (NYSE).
This initiative aims to facilitate investor access to XRP, the cryptocurrency of Ripple, allowing them to acquire it in a manner similar to traditional stocks, without the need to directly manage digital wallets or cryptocurrency exchange platforms. If approved, this would be the first regulated XRP ETF in U.S. markets.
This move comes amid regulatory changes in the cryptocurrency sector. The recent departure of Gary Gensler from the SEC chairmanship and the appointment of Mark Uyeda as interim chairman have generated expectations of more favorable policies toward digital assets.
In addition to Grayscale, other firms like CoinShares and Bitwise have filed applications to launch XRP ETFs, reflecting a growing institutional interest in investment products structured around cryptocurrencies.
These initiatives have generated excitement in the XRP community, with expectations that the approval of these ETFs will boost the adoption and value of the cryptocurrency. Analysts foresee that XRP could experience a significant increase in its value in the coming days, driven by this news.
In Europe, the U.S. manager WisdomTree launched the WisdomTree Physical XRP ETP in November 2024 on several European exchanges, including Deutsche Börse Xetra, the Swiss SIX exchange, and Euronext in Paris and Amsterdam. This product offers investors regulated and safe exposure to XRP, with a management expense ratio of 0.50%.
The potential approval of XRP ETFs in the United States could mark a milestone in the integration of cryptocurrencies into traditional financial markets, providing investors with new opportunities to diversify their portfolios with digital assets.
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