Key Highlights:

• Grayscale has filed with the SEC to convert its XRP Trust into an ETF on NYSE Arca, following similar moves for Solana and Litecoin.
• The filing comes amid a wave of XRP ETF applications from asset managers like CoinShares and Bitwise.

In what could be a defining moment for XRP’s mainstream adoption Paradisers, Grayscale Investments has officially submitted a filing to the U.S. Securities and Exchange Commission to convert its Grayscale XRP Trust into a fully tradable exchange-traded fund (ETF) on NYSE Arca.

If approved, this would provide institutional and retail investors with regulated exposure to XRP, eliminating the need for direct ownership or self-custody.

With a current asset base of approximately $16.1 million, the Grayscale XRP Trust has been structured to track the price of XRP, minus management fees. Custodial services for the fund will be handled by Coinbase Custody Trust Company, ensuring that the assets remain under strict regulatory oversight.

The Race for an XRP ETF Heats Up

Grayscale’s move is part of a broader institutional land grab for XRP-based investment products. CoinShares and Bitwise have also submitted XRP ETF proposals to the SEC, signaling a growing appetite for regulated exposure to the third-largest cryptocurrency by market cap.

This latest filing follows Grayscale’s recent applications for Solana and Litecoin ETFs, reinforcing the company’s aggressive push to bring crypto assets under the traditional finance umbrella.

XRP Holds Steady Amid Market Volatility

Despite the ETF excitement, XRP’s price has remained largely flat at $3.09, showing a rare display of emotional discipline in a market known for wild swings. With a market cap just under $180 billion, XRP has only dropped 8% from its all-time high of $3.40, a level of resilience that many other top 100 cryptocurrencies can only dream of.

What’s Next?

If the SEC grants approval, this XRP ETF would provide professional traders and institutional investors with a secure, regulated, and liquid way to gain exposure to XRP without the hassles of self-custody. Given the SEC’s history of dragging its feet on crypto regulation, it remains to be seen whether this proposal will sail through or hit the regulatory deadlock.

For now, all eyes are on the SEC’s next move, will they embrace progress, or keep crypto stuck in regulatory purgatory?