Grayscale has submitted a 19B-4 form to the New York Stock Exchange (NYSE) to trade its XRP trust on January 30, which corresponds to converting the product into a stock market-related fund (ETF).
Was confidence Introduced on September 12 and currently has $ 16 million, equal to 1.2% of the total control of XRP Exchange-Traded Products (ETP), as coinshares reported.
When confidence was introduced, the crypto community began to speculate about a potential ETF application.
JPMorgan recently estimated that XRP ETPs could attract between $ 4 billion and $ 8 billion. The estimate used Bitcoin (BTC) and Ethereum (ETH) products and their respective market hoods as a basis.
ETF Run
One of the most common arguments against approving an XRP ETF is the lack of previous futures contracts for these assets. How but one leaked cme page Hint on XRP and Solana (SOL) Futures that launched on 10 February.
Despite the leak, CME did not release an official statement and the page was quickly removed.
Nevertheless, Bloomberg ETF analysts Eric Balchunas and James Seyffart predict A “Gulf of Crypto ETFs” this year, including XRP funds.
Yet they said that these could take a while, given the lawsuits of the US Securities and Exchange Commission (SEC) that claim that XRP is a non -registered security.
The chances of an XRP ETF approval can increase, as President Donald Trump is Reportedly talking ripple About adding XRP, USD Coin (USDC) and SOL to a potential digital assets stock for the country.
In addition to the Grayscale XRP Trust, five other place XRP ETFsSubmitted by Bitwise, Canary Capital, 21Shares, Wisdomtree and Rex & Osprey, waiting for approval.
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Gino Matos
Gino Matos graduated from the law study and an experienced journalist with six years of experience in the crypto industry. His expertise focuses primarily on the Brazilian blockchain ecosystem and developments in Decentralized Finance (Defi).
