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Grayscale, the renowned crypto asset manager, is set to make waves in the XRP space. According to Fox Business, Grayscale will soon introduce the first US XRP trust, giving accredited investors direct exposure to XRP. This move could pave the way for the future launch of a spot XRP exchange-traded fund (ETF).

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Could an XRP ETF Be Next?

Grayscale has successfully converted its Bitcoin (BTC) and Ethereum (ETH) investment trusts into ETFs this year. With the launch of the XRP trust, there’s growing speculation that the XRP Trust might also follow the same path.

We are proud to announce the creation of a new single-asset crypto investment fund, Grayscale $XRP Trust, which will be available through private placement.

Available to eligible accredited investors.

Read the press release: https://t.co/rOmVPUSFxZ pic.twitter.com/WEhk849RmT

— Grayscale (@Grayscale) September 12, 2024

XRP investors are eagerly waiting for big asset managers like Grayscale and BlackRock to apply for a spot XRP ETF, following the successful debut of similar Bitcoin and Ethereum products.

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Will the SEC Approve an XRP ETF?

Opinions on the potential approval of an XRP ETF are divided. While some experts believe it may face challenges in receiving approval, others are optimistic that the SEC will eventually greenlight a spot XRP ETF.