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Coin Edition 2025-01-31 07:15:44

Grayscale Files for XRP Spot ETF: Will XRP Price Rally on the News?

Grayscale Files for XRP Spot ETF: Will XRP Price Rally on the News?

Grayscale has filed for the conversion of its XRP Trust to a spot XRP ETF in the US. Purpose Investments Inc. also filed for a spot XRP ETF with Canadian authorities. XRP is trading at $3.08, showing signs of a retest of lower support levels in the near future. XRP could be on the verge of a bullish rally. This comes as Grayscale, a major digital asset management firm, filed for a spot XRP exchange-traded fund (ETF) with the New York Stock Exchange (NYSE) Arca. A 19b-4 filing was submitted by the NYSE Arca on behalf of Grayscale. The goal is to convert Grayscale’s XRP Trust into a spot ETF. But according to FOX Business journalist Eleanor Terrett, more XRP ETF applications could be seen from various issuers next week. An influx of such ETPs could put the altcoin at higher valuations in the near future. SCOOP: Keep an eye out for possibly more filing activity by issuers with $XRP ETF applications next week. https://t.co/nMl7JpsmrY — Eleanor Terrett (@EleanorTerrett) January 30, 2025 The NYSE Arca filing added that Grayscale believes that the XRP ETF “would provide other investors with a way to invest in XRP on a regulated national securities exchange… The post Grayscale Files for XRP Spot ETF: Will XRP Price Rally on the News? appeared first on Coin Edition .

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