Crypto: Grayscale Pursues XRP ETF Approval

Grayscale Seeks SEC Approval for XRP ETF Conversion

• NYSE Arca filed with the SEC to convert Grayscale’s XRP Trust into an ETF.
• If approved, Coinbase Custody Trust Company, LLC will be the custodian.
• BNY Mellon Asset Servicing will act as the fund’s transfer agent.
• Grayscale has successfully converted its Bitcoin and Ethereum Trusts into spot ETFs in 2024.
• The XRP Trust holds approximately $16.1 million in assets under management.
• XRP is trading at $3.13, up over 525% in the past year.

Grayscale seeks to convert its XRP Trust into an exchange-traded fund, with NYSE Arca filing an application with the SEC. The trust currently manages about $16.1 million in assets, and investor demand for XRP has surged recently, with prices rising significantly over the past year.