In a recent development, asset manager Grayscale has submitted a 19B-4 form via the NYSE to launch an XRP ETF.
“Grayscale Investments has submitted to the New York Stock Exchange (NYSE) to offer a spot XRP Exchange-Traded Fund (ETF). This submission is intended to convert the existing XRP confidence of Grayscale into an ETF, whereby shares can be stated and traded on the NYSE, ”the submit read.
This application comes shortly after the company has requested Litecoin and Solana ETFs. In addition, Grayscale recently introduced his Bitcoin Miners ETF, a new fund that offers exposure to Bitcoin mining companies under the Ticker MNRS.
Grayscale joins asset managers, including Bitwise and Wisdomtree, as potential issues of the listed fund. With his XRP ETF invoice, Grayscale becomes the seventh asset manager to submit a proposal for such a fund. This application is part of a wave of ETF requests submitted in the sec after the return of Donald Trump to the office and the exit of Gary Gensler of the committee.
In particular, the company already has an XRP confidence that blooms this year so far. At the beginning of January, trust rose 300%, according to Nasdaq, on speculation of a potential XRP ETF in the coming 12 months.