NYSE Arca, a subsidiary of the New York Stock Exchange, has filed with the SEC to convert Grayscale's XRP Trust into a spot exchange-traded fund (ETF). Grayscale believes that converting the trust into an ETF would allow more investors to access XRP on a regulated securities exchange. The XRP trust currently has $16.2 million in assets under management. Other firms, including Bitwise Asset Management and 21Shares, have also filed for XRP ETFs. The SEC has previously approved Bitcoin and Ethereum ETFs, and firms have applied for Solana ETFs as well. Grayscale has also filed to convert its Solana Trust into a spot ETF.



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