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Ripple President and Analysts Hopeful: XRP is Next After BTC and ETH! - Coin Bulletin
Crypto asset management giant Grayscale has filed for an exchange-traded fund (ETF) for XRP.
The company has filed a formal application with the U.S. Securities and Exchange Commission to **convert the XRP Trust into an ETF that can be traded on the New York Stock Exchange (.
According to the file, there is 16.1 million dollars in Grayscale's XRP fund, and investors aim to be exposed to the cryptocurrency without having to buy XRP directly. Dave LaValle, Global Head of ETF at Grayscale, stated that the company took this step to expand investor access to digital assets.
)# Trump Effect and Expectation for SEC Approval
Recently, as ETF applications are made for Solana, Dogecoin, and Litecoin, it is expected that new ETF applications will increase due to the Trump administration's warmer approach to crypto. The crypto markets are eagerly awaiting the attitude of Paul Atkins, expected to be appointed as the SEC Chairman, on this matter.
However, Bloomberg analyst James Seyffart said that XRP's ETF approval is difficult due to the ongoing SEC lawsuits regarding whether XRP is still a security. According to Seyffart, the Litecoin ETF could be approved earlier as it is not entangled in security debates.
Meanwhile, Ripple President Monica Long said that the XRP ETF is the next crypto product to be approved and expects it to be approved very soon. Companies such as Bitwise, Wisdom Tree, and Canary are also among the firms that have applied for an XRP ETF.