Regulator Acceptance Boosts Grayscale's Crypto ETF Ambitions Amid Surging Investor Interest
by aria-crypto.com
January 31, 2025 at 00:54
Regulator Acceptance Boosts Grayscale's Crypto ETF Ambitions Amid Surging Investor Interest
Grayscale has submitted an SEC application through NYSE Arca to convert its XRP Trust into an ETF, expanding its suite of crypto investment vehicles. The firm has already successfully transitioned its Bitcoin and Ethereum trusts into spot ETFs, reflecting growing regulatory acceptance and investor demand for digital assets. As part of a broader strategy, Grayscale also plans to convert its Digital Large Cap Fund into a multi-crypto ETF, diversifying holdings to include major cryptocurrencies like Bitcoin, Ethereum, and newly added Cardano. This move aligns with increased crypto investments following Donald Trump's election victory, under whose administration U.S. crypto regulations are expected to become more favorable. The proposed XRP ETF, when approved, will simplify investments in XRP, offering exposure without the complexities of direct purchasing, potentially accommodating surging investor interest as XRP's price approaches historic highs. Additionally, the crypto landscape is witnessing a wider ETF boom, with new filings for various cryptocurrency funds including Solana, Chainlink, and meme coins, indicating a robust market appetite for structured crypto investment products.
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