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COINTURK NEWS > Ripple (XRP) > Grayscale Takes Bold Step with XRP ETF Application on NYSE
Ripple (XRP)

Grayscale Takes Bold Step with XRP ETF Application on NYSE

In Brief

  • Grayscale applies for a Spot XRP ETF on NYSE to expand its portfolio.

  • The ETF's approval may attract more investors and strengthen Grayscale's position.

  • Increased ETF popularity is likely to enhance confidence in the cryptocurrency market.

İlayda Peker
İlayda Peker 4 months ago
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Grayscale, an asset management company, has officially applied to launch a Spot XRP 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.

Contents
XRP ETF Application DetailsMarket Developments

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 $170 and Bitcoin $107,095 Adapters.

Market Developments

The increasing popularity of ETFs in the cryptocurrency market presents various investment opportunities for participants. Grayscale’s new actions are viewed as a positive sign for the market’s growth potential. These applications may accelerate the integration of crypto assets into traditional financial markets, providing investors with more options and flexibility.

If the XRP ETF is approved, there may be an increase in the number of investors trading on Grayscale’s platform, potentially strengthening the company’s market position.

Observers note that Grayscale’s steps could enhance confidence in the cryptocurrency market. Additionally, advancements in regulatory approval processes may positively influence the industry.

Grayscale’s ETF applications could contribute to the growth of the cryptocurrency market. Providing increased diversity and accessibility for investors may assist in the market’s maturation.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 30 January, 2025 - 11:05 pm 30 January, 2025 - 11:05 pm
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