In a major development for the cryptocurrency market, Grayscale has officially filed for a Spot XRP Exchange-Traded Fund (ETF) with the New York Stock Exchange (NYSE). The filing, disclosed in a recent submission to the U.S. Securities and Exchange Commission (SEC), signals a transformative shift in regulatory attitudes toward digital assets.

Grayscale Expands ETF Offerings

Grayscale joins a growing list of asset managers, including Bitwise and WisdomTree, seeking to launch a Spot XRP ETF. The firm is also pursuing a Spot Solana ETF, further broadening the range of institutional investment opportunities in the crypto sector.

The move follows the success of Spot Bitcoin and Ethereum ETFs, which saw significant institutional adoption after receiving SEC approval in early 2024. The Bitcoin ETF, in particular, was hailed as the most successful ETF launch in history, raising optimism for additional altcoin-based investment vehicles.

From Regulatory Battles to Institutional Adoption

Grayscale’s XRP ETF filing marks a dramatic shift in the regulatory landscape. Just a year ago, Ripple was embroiled in a legal battle with the SEC, facing challenges to XRP’s classification as a security. Under the previous administration, the regulatory agency pursued enforcement-heavy policies that stifled crypto innovation.

Now, with the election of pro-crypto President Donald Trump, the SEC has undergone a leadership overhaul. Mark Uyeda has taken over as SEC chairman following the resignation of Gary Gensler earlier this month. This shift has paved the way for the approval of additional crypto-based ETFs, further legitimizing digital assets in traditional finance.

XRP Trust’s Strong Performance Fuels ETF Speculation

Grayscale already operates an XRP Trust, which has seen remarkable growth this year. At the start of January, the trust surged 300%, driven by speculation of an imminent XRP ETF approval. The bullish sentiment reflects growing institutional interest in XRP and the broader altcoin market.

As demand for crypto investment vehicles grows, Grayscale’s move to file for an XRP ETF underscores the increasing acceptance of digital assets on Wall Street. Additionally, the firm recently filed for a Solana ETF and launched a Bitcoin Miners ETF, further expanding its crypto-focused offerings.

Conclusion

Grayscale’s Spot XRP ETF filing is a milestone moment for the cryptocurrency industry, reflecting a major policy shift in the U.S. regulatory environment. With institutional investors eagerly watching, the potential approval of an XRP ETF could further cement the asset’s status as a leading digital currency. As regulatory clarity improves, the stage is set for an expanded suite of crypto-based financial products.