Grayscale Takes Bold Step with XRP ETF Application on NYSE – BitRss

Grayscale, an asset management company, has officially applied to launch a Spot XRP ($3.13) ETF on the New York Stock Exchange (NYSE). This initiative is seen as part of Grayscale’s strategy to expand its diversified ETF portfolio within the cryptocurrency market.

XRP ETF Application Details

Grayscale plans to file Form 19b-4 through the NYSE for its XRP ETF proposal. The company aims to convert its existing XRP Trust into an ETF, which, if approved, will be listed and traded on the NYSE.

This application follows closely behind Grayscale’s recent submission for a Litecoin ETF to the U.S. Securities and Exchange Commission (SEC). The company has also recently proposed ETFs for Solana $240 and Bitcoin