GrayScale submitted 19B-4 forms to NYSE (New York Stock Exchange) to trade XRP Trust on January 30, which is the same as converting the product to ETF (Exchange-Traded Fund).
Trusted It was introduced on September 12 And $ 16 million, $ 16 million, 1.2%of the total assets that managed XRP Exchange-Traded Products (ETP) Reported.
When the Trust was introduced, the encryption community began to speculate on potential ETFs.
Recently, JPMORGAN estimates that XRP ETP can attract $ 4 billion to $ 8 billion. This estimation used BTC (Bitcoin) and Ethereum (Etherem) products and its market cap.
ETF execution
One of the most common arguments for the XRP ETF approval is that there is a lack of previous futures contracts for these assets. But A Leaked CME page Hint released on February 10 in XRP and Solana (SOL) gifts.
Despite the leakage, the CME did not announce an official statement and the page was interrupted quickly.
Nevertheless, Bloomberg ETF analyst Eric Balchunas and James Seyffart prediction Including XRP funds, this year’s “cryptocurrency ETF”.
But they said they could take time considering the US Securities and Exchange Commission (SEC) lawsuit, which claims that XRP is not registered.
President Donald Trump Is reported ripples SOL to the state’s potential digital asset reserve for adding XRP, USD Coin (USDC) and SOL.
GrayScale XRP Trust, in addition to 5 different branches XRP ETFApprovals submitted by Bitwise, Canary Capital, 21Shares, WisDomtree and Rex & Osprey are waiting..
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Ginomato
GINO MATOS is a law school graduate and skilled reporter with six years of experience in the encryption industry. His expertise focuses mainly on the development of Brazilian blockchain ecosystems and decentralized finance (defi).