news 
Grayscale Files for Ripple (XRP) ETF Listing on NYSE
Grayscale Investments has taken a crucial step in its quest to expand the scope of its cryptocurrency offerings by submitting a filing with the United States Securities and Exchange Commission (SEC) to convert its XRP Trust into an exchange-traded fund (ETF) listed on the New York Stock Exchange (NYSE).
The move comes as part of Grayscale’s efforts to make it easier for investors to access XRP without having to directly buy the asset. The proposed ETF would allow investors to gain exposure to Ripple’s native token by purchasing shares in a security that is overseen by a national securities exchange, thus providing an alternative investment option.
As reported, the SEC has been more stringent in its regulations regarding cryptocurrencies, limiting the market’s options for crypto-related ETFs. This development could potentially pave the way for other cryptocurrency-based ETFs to be listed on major stock exchanges.
Grayscale’s XRP Trust is currently one of the largest investment instruments tied directly to Ripple’s token, with assets under management exceeding $16 million.
Source: cryptopotato.com
