**Grayscale Submits Documents for XRP ETF on NYSE**
Grayscale Investments has formally provided documentation to the New York Stock Exchange (NYSE) with intentions to introduce a spot XRP Exchange-Traded Fund (ETF). This action seeks to convert Grayscale’s current XRP Trust into an ETF, permitting its stocks to be detailed and exchanged on the NYSE.
**What is an XRP Spot ETF?**
An Exchange-Traded Fund is essentially an investment fund that possesses assets such as stocks, crypto, or goods, and trades on stock exchanges. A spot XRP ETF would offer investors direct access to XRP’s market price variations without needing to directly possess the cryptocurrency itself.
This submission is a component of a broader pattern of asset management companies looking to introduce crypto ETFs. Grayscale also recently requested a Solana ETF, displaying a calculated step to expand its crypto investment offerings.
In September 2024, Grayscale introduced the Grayscale XRP Trust, furnishing approved investors with the chance to invest in XRP.
