- Grayscale files to convert their XRP confidence to ETF spot with NYSE.
- Confidence runs $ 16.1 million in XRP assets, and tracks the XRP market price.
GrayScale Investments has been submitted to the New York Stock Exchange (NYSE) to convert the current XRP confidence into a trading box on the Stock Exchange (ETF). This step aims to provide investors with direct exposure to XRP without retaining the encrypted currency. Confidence currently runs $ 16.1 million in XRP assets.
According to presentationTrust is one of the largest investment funds in the world. If approved, the shares will be inserted and traded on the New York Stock Exchange. Coinbase Custody Trust Company will work as a guard, and the BNY Mellon Asset service will be a transport agent.
GrayScale format with Nyse Arca to submit a 19B-4 file required to launch ETF in the United States Securities and Stock Exchange Committee (secondYou will now review the application. The general suspension period will precede the final decision.
Confidence already follows the price of the XRP market, and the shares are fluctuated accordingly. The net asset value (NAV) is calculated daily at 4:00 pm EST by hitting the current market price of XRP by TRST holdings.
XRP ETF market growth
Grayscale’s introduction is part of the direction of a wider industry. Companies such as BitWise and Coinshares also submitted requests for XRP investment funds. Wiskomtree and Canary Capital follow similar initiatives that reflect the increase in institutional interest.
XRP trading volumes on decentralized exchanges (DeX). The January exchange volumes on XRP LEDGER’s DeX exceeded one billion dollars for the first time since the launch of the automated market maker in May 2024.
ETF batch gained momentum after the departure of former SEC Chairman Gary Ginsler. Acting Chairman Mark Oida is currently overseeing the committee while waiting for the Senate’s assertion of Paul Atkins, a supporter of well -known encryption.
Monica, Ripple Labs, has expressed her long optimism, stating that ETF XRP could become a reality. The success of Grayscale with other traded investment funds that focuses on cryptocurrency, such as Bitcoin and Ethereum, shows a strong demand in the market.
The encryption news was highlighted today
The Senate in Arkansas rejects a draft law prohibiting encryption mining near the military areas
