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XRP Enters Grayscale’s NYSE-Listed Digital Asset ETF, Eyes on Pending 17 XRP ETF Filings
The crypto world woke up to a monumental announcement today as XRP officially became part of the SEC-approved Grayscale Digital Large Cap ETF. This significant development signifies that, for the first time in nearly five years of legal battles between the SEC and Ripple, everyday investors in the U.S. can now gain exposure to XRP through a regulated investment product listed on the New York Stock Exchange.
The Grayscale ETF comprises a diverse portfolio of major cryptocurrencies like Bitcoin, Ethereum, Solana, Cardano, and XRP, making it the largest multi-token crypto ETF in the market. Many in the crypto space are hailing this momentous occasion as a massive breakthrough for XRP, suggesting that it could soon pave the way for individual spot XRP ETFs to be approved next.
Crypto analysts and XRP enthusiasts are rejoicing at this approval, which signals a shift in the SEC’s stance toward XRP. Interestingly, around 17 more XRP ETF applications reportedly remain pending with the SEC, and today’s development has greatly boosted optimism that these approvals could start rolling in over the coming months.
This news carries immense implications for U.S. investors who previously faced hurdles when attempting to purchase XRP due to regulatory uncertainty and ongoing litigation between Ripple and the SEC. With this new ETF, investors can now effortlessly buy shares backed by XRP, much like any traditional stock, without the need for crypto exchanges or wallets. This move has the potential to attract substantial capital inflows into XRP, as institutional investors and traditional traders who formerly shunned direct crypto exposure can now invest in it with confidence.
In parallel, XRP’s price chart appears to be tightening, suggesting a breakout setup is underway. If Bitcoin were to rally and market conditions remain robust, XRP could soon make a significant upward movement.
This announcement sends ripples through the digital asset space as investors are eager to gain exposure to XRP within a regulated framework.
Source: coinpedia.org
