Grayscale submitted an application to the Securities and Exchange Commission (SEC) on Tuesday to convert its Digital Large Cap Fund, which includes currencies like Ripple (XRP), Bitcoin, and Ethereum, into an Exchange-Traded Fund (ETF). This conversion aims to facilitate investment for small investors, as the fund manages assets worth $600 million, with a management fee of 2.5%. XRP constitutes 5.8% of its portfolio alongside currencies like Solana and Cardano. If approved, the fund will be listed on a public trading platform, which could enhance demand for XRP and support it in the long term despite current economic challenges.
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