According to Odaily, the New York Stock Exchange (NYSE) Arca has filed a 19b-4 document aimed at converting Grayscale's XRP Trust into a spot Exchange-Traded Fund (ETF). The fund is currently managing assets worth approximately $16.1 million. This filing represents the second step in a two-part process to apply for a spot cryptocurrency ETF with the U.S. Securities and Exchange Commission (SEC). The exchange submitted the 19b-4 document to the SEC to propose amendments to the existing rules.
