Is a Ripple (XRP) Spot ETF on the Horizon? Grayscale's Multi-Crypto ETF Gets SEC Approval

The U.S. Securities and Exchange Commission (SEC) has given the green light to Grayscale Investments to transform its Digital Large Cap Fund (GDLC) into a publicly traded spot exchange-traded fund (ETF), providing exposure to multiple cryptocurrencies. GDLC includes Bitcoin, Ethereum, Solana, XRP, and Cardano, following the CoinDesk 5 Index model.

The approval has sparked optimism among investors for potential future sanctioning of altcoin-specific ETFs. Advisors and analysts predict a high probability of the SEC approving spot ETFs for various other cryptocurrencies this year, following this successful "test run". The converted ETF is expected to begin trading soon on NYSE Arca. This marks a significant milestone as it introduces one of the first regulated products tracking several digital assets.