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Grayscale to List Spot XRP ETF on NYSE
Grayscale Investments has taken a significant step by filing with the New York Stock Exchange (NYSE) to transform its existing XRP Trust into a spot XRP exchange-traded fund (ETF). If approved, this move would enable investors to buy and sell shares linked directly to XRP’s market performance, all under the watchful eye of a national securities exchange.
Grayscale has been at the forefront of crypto innovation, and this latest development is no exception. The company recently launched the Grayscale Bitcoin Miners ETF (MNRS), which invests in publicly traded companies involved in Bitcoin mining. This new direction underscores Grayscale’s broader push to introduce more crypto-centric financial products. Moreover, the firm has filed ETF plans involving Solana, indicating a systematic effort to expand its offerings within the digital asset sphere.
The Grayscale XRP Trust first entered the market in September 2024, catering specifically to accredited investors seeking exposure to XRP without the logistical challenges and custody issues associated with direct acquisition. If the SEC gives the green light, this potential ETF upgrade would position Grayscale as a leader in crypto innovation once again.
Source: bravenewcoin.com
