Crypto Fund Behemoth Grayscale Investments has submitted an application to the Bag and Securities Commission (SEC) to convert its XRP trust into a background quoted by the exchange (ETF), which will include in the New York Stock Exchange (NYSE).
The existing product operates as a legal trust of Delaware, which manages more than $ 16 million XRP starting Friday. The proposed ETF would continue to keep XRP as its main asset and track its performance in a price performance base, adjusted by operational rates, providing investors with a direct link to the XRP performance.
In addition to the gray scale, companies such as Coinshares and Bitwise have also submitted requests for XRP -based ETFs, indicating a growing institutional appetite due to structured investment products in XRP.
In early January, the president of Ripple Labs, Monica Long, commented that an ETF XRP could “soon be a reality” under the new Trump administration, one that has promised to return cryptographic innovation to the United States and support local businesses .
Meanwhile, the commerce of volumes in native XRP applications has increased, since the favor of investors earns. Exchange volumes in the Decentralized Exchange of XRP LEDger (DEX) crossed the $ 400 million brand in January to cross the $ 1 billion brand for the first time since its automated market manufacturer characteristic was launched in May, a feat that a feat that Some say that it contributed to making 2024 a “monumental” monumental “year for the file.
