Will the SEC Approve Grayscale’s XRP ETF? Here’s What We Know

With recent approvals of Spot Bitcoin ETFs in the U.S., Australia, and Hong Kong, alongside Ethereum ETFs, excitement is building in the financial world. Canary Capital and Bitwise have now joined the movement, applying for XRP ETFs, while Grayscale has asked the U.S. Securities and Exchange Commission (SEC) to convert its Digital Large Cap Fund—including Bitcoin (BTC), Ethereum (ETH), and XRP—into an ETF.

What impact would this have on the market?

Grayscale Eyes Crypto ETF Approval for Major Fund

Grayscale Investments, a leading crypto asset management firm, is pushing to convert its Digital Large Cap Fund (GDLC) into an exchange-traded fund (ETF).

The SEC has officially opened a comment period on Grayscale’s ETF application, allowing the public to weigh in. By inviting feedback from investors and other stakeholders, the SEC aims to gather insight on potential investor interest and concerns surrounding Grayscale’s proposal.

XRP ETFs Stir Interest, But Approval May Be Slow

ETF expert Eric Balchunas believes that a combined crypto ETF, including multiple assets, could see faster approval compared to single-asset ETFs.

Bitcoin ETF Success and What It Means for XRP

Ripple Labs, the company behind XRP, is facing its own regulatory challenges, including a $125 million fine from the SEC. Despite this, Ripple’s CEO, Brad Garlinghouse, is optimistic about XRP’s future. He sees an XRP ETF as “inevitable” and believes it could thrive thanks to XRP’s supportive community.

Garlinghouse sees ETFs as an important factor that can drive prices up for different cryptocurrencies. He claims that these products create "upward pressure" on prices, which could help the whole crypto market.

We want to hear from you! How do you feel about the rise of crypto ETFs?