Grassscale Investments have filed a spot XRP exchange-traded funds with the New York Stock Exchange.
The purpose of this filing is to convert Grassscale’s existing XRP Trust into ETFs, allowing shares to be listed and traded on NYSE.
“Trust is one of the world’s largest XRP (” XRP “investment funds by assets under management as the date of this filing. The trust has about 16.1 million dollars in property under management, 5 more shares American Investors are conducted by accounts, which demand exposure for XRP without the cost and complexity of direct assets, ‘Read the filing.
Earlier on January 30, Grassscael also introduced the Grassscale Bitcoin Minors Exchange-Trade Funds, a new fund that provides exposure to bitcoin mining companies that publicly trading publicly under Tikar MNRS.
Spot XRP ETF
An exchange-traded fund is an investment fund that holds assets such as trades on stocks, goods, or cryptocurrency and stock exchanges.
A spot XRP (XRP) ETF will provide investors with direct exposures for market price movements without the need to hold the cryptocurrency directly.
Grassscale’s filing is part of a comprehensive trend of asset managers to introduce cryptocurrency-focused ETFs. Recently, Grassscale also filed an ETFS tracking for Solana, indicating a strategic move to expand its crypto investment offerings.
In September 2024, Grassscale launched the Grassscale XRP Trust, which provided to investors coming in contact with XRP.
