Grayscale Moves to Turn XRP Trust Into ETF With Fresh SEC Submission

Grayscale Pushes for XRP ETF Approval With SEC Filing

Grayscale Investments has submitted a proposal to the U.S. Securities and Exchange Commission (SEC) seeking approval to convert its existing XRP Trust into an exchange-traded fund (ETF), a move that could bring greater institutional adoption for XRP.

The trust, which currently holds over $16 million in XRP, would transition into a publicly traded ETF on the New York Stock Exchange (NYSE) if approved. The fund would continue to track XRP’s price performance, offering investors regulated exposure while accounting for operational costs.

Grayscale’s filing comes amid a wave of interest in XRP-based investment products. Firms such as CoinShares and Bitwise have also submitted applications for XRP ETFs, signaling heightened institutional appetite.

Ripple Labs president Monica Long recently suggested that an XRP ETF could become a reality under the Trump administration, which has indicated a more favorable stance toward cryptocurrency innovation and regulatory clarity.

Meanwhile, XRP’s on-chain activity has been booming. In January, swap volumes on the XRP Ledger’s decentralized exchange (DEX) surpassed $400 million, pushing total trading volume beyond $1 billion since its automated market maker (AMM) feature launched in May. This growth has reinforced XRP’s expanding role in the crypto ecosystem.