ETF list of gray -scale files for Ripple (XRP) in NYSE

Grayscale has asked the United States Stock Exchange and Securities Commission (SEC) to change its XRP trust in a background quoted by the exchange (ETF) in Nyse Arca.

According to a presentation presented at the regulatory agency, the XRP Trust is among the largest investment instruments anchored to Ripple’s native token, with more than $ 16 million in assets under administration.

Spot XRP ETF

Justification of the gray scale to search convert The trust in an ETF is that this product would give investors greater access to XRP without the cost and complexity of buying the asset directly, everything while supervising for an exchange of national values.

The asset management giant now joins a large number of investment companies, including Coinshares, Wisdom Tree, Proshares, Rex Shares and Bitwise, which have presented presentations for the ETF XRP.

The burst of the activity is heated after the inauguration of Donald Trump as the 47th president of the United States. His pro-Crypto perspective has encouraged many digital asset companies to explore new offers, with gray scale shipping requests for ETF of Solana and Litecoin just a week ago.

Previously, the company based in Stamford also introduced its ETF of the Miners of Bitcoinscala de Grises to expose investors to BTC mining companies that quote on the stock market such as Riot, Digital Marathon and Core Scientific.

The SEC, under interim president Mark Uyeda, has established a dedicated work group to develop a regulatory framework for the cryptographic industry. While the agency, under its former boss Gary Gensler, approved ETFS tracking Bitcoin and Ethereum, his insistence that most cryptocurrencies qualified as values ​​meant that the market options for ETFs related to cryptocurrencies were limited.

XRP under fire

XRP itself is at the center of a long legal dispute between its parent company and the SEC, and the regulator accused Ripple Labs and several of its executives to raise $ 1.3 billion through an offered non -registered securities.

While a recent elimination of demand on the financial regulator website caused speculation between the XRP community that the case has finally been resolved, lawyer Jeremy Hogan insisted that it is still on and that nothing had changed.

Meanwhile, a recent executive order to explore the creation and composition of a National Reserve of Digital Assets had sections of the Bitcoin community in arms against XRP about its possible inclusion in such a reserve.

The endless drama seems to have affected the price of the currency, which fell into 0.6% marginal in the last 24 hours. The loss is more significant in fifteen days, with Coingcko data that show XRP submerged in almost 7%.

However, not everything is fatality and gloom; For 30 days, Ripple’s native token has increased 44.9%, with optimistic analysts that it can break their historical maximum of $ 3.4 in the short term to jump to $ 4.5.