Grayscale Moves to Convert XRP Trust Into ETF With SEC Filing

Grayscale Investments has officially filed a proposal with the U.S. Securities and Exchange Commission (SEC) to convert its existing XRP Trust into an exchange-traded fund (ETF), aiming to bring institutional-grade XRP exposure to the New York Stock Exchange (NYSE).

The trust currently holds over $16 million worth of XRP and operates as a Delaware statutory trust. If approved, the ETF will maintain XRP as its core asset, tracking its price while factoring in operational expenses. The move signals a growing push to integrate XRP into the broader regulated investment landscape.

Grayscale isn’t alone in the race for an XRP ETF. Other major asset managers, including CoinShares and Bitwise, have also submitted applications, reflecting increased institutional demand for structured XRP investment products.

Ripple Labs president Monica Long recently hinted that an XRP ETF “could soon be a reality” under President Donald Trump’s administration, which has pledged to take a more supportive stance on the crypto industry and U.S.-based blockchain firms.

Meanwhile, XRP’s on-chain activity has surged. In January, swap volumes on the XRP Ledger’s decentralized exchange (DEX) surpassed $400 million, helping push total trading volumes past $1 billion since its automated market maker feature debuted in May. This surge has contributed to what many consider a landmark year for XRP adoption and innovation.