NYSE Arca has filed an application with the SEC seeking to convert Grayscale’s XRP ($3.11) Trust into an exchange-traded fund.
If approved, Coinbase Custody Trust Company, LLC will serve as the custodian. At the same time, BNY Mellon Asset Servicing will act as the fund’s transfer agent, according to a 19b-4 filing submitted Thursday.
Grayscale’s XRP Trust is one of several investment vehicles the firm has converted or is in the process of converting amid surging demand for digital asset-based investment offerings.
The move follows the firm’s successful conversion of its Bitcoin Trust into a spot ETF on January 11, 2024, and its Ethereum Trust into a spot ETF on July 23, 2024.
Grayscale has also sought SEC approval to convert its Digital Large Cap Fund—holding Bitcoin, Ethereum, Solana, XRP, and Avalanche—into a diversified multi-crypto ETF.
In January 2025, the firm rebalanced the fund, increasing Bitcoin and Ethereum’s share to 90% while replacing Avalan…
