Grayscale rolls out XRP ETF, expanding its crypto fund lineup
Grayscale launched the Grayscale XRP Trust ETF (GXRP) on NYSE Arca, expanding its cryptocurrency fund offerings.Summary
Grayscale has introduced the Grayscale XRP Trust ETF, trading under the ticker GXRP on NYSE Arca, to provide investors with straightforward exposure to XRP. This ETF was initially launched as a private placement in September 2024 before its conversion. Krista Lynch, SVP at Grayscale, stated that the debut is a significant step in broadening access to the XRP ecosystem. Grayscale joins other firms like Canary Capital and REX Shares in offering XRP ETFs. XRP is the fourth-largest cryptocurrency by market capitalization, associated with Ripple Labs for fast international transfers. The article also notes the history of the SEC's lawsuit against Ripple regarding XRP's status as a security, which recently concluded with both parties abandoning appeals. Grayscale has been actively converting its closed-end trusts to ETFs, spurred partly by its successful legal challenge against the SEC regarding its Bitcoin trust conversion.
(Source：The Block)