Grayscale Seeks SEC Approval to Launch Crypto ETF Including XRP

Grayscale Investments has requested the U.S. Securities and Exchange Commission to convert its Digital Large Cap Fund into a spot exchange-traded fund. The proposed ETF will include Ripple-linked cryptocurrency XRP as one of its core assets.

Grayscale filed this application on April 1, demonstrating its ongoing strategic approach toward expanding digital asset products within the ETF market.

The fund maintains its investment portfolio across five main digital assets. Bitcoin is the top digital asset in the fund, with 79.4 percent control, followed by Ethereum at 10.69 percent.

XRP stands as the fund’s third-largest asset with a 5.85 percent allocation. ADA from Cardano receives an allocation of 1.14 percent, while Solana’s is 2.92 percent.

The official fund page reports that the portfolio seeks to reproduce the market capitalization weightings of select valuable digital assets. The upcoming ETF will maintain its investment composition as it appears on its original listing.

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Grayscale was approved to convert its Bitcoin and Ethereum Trust into spot ETFs. These products began trading on public markets in early 2024.

XRP’s Inclusion Signals Growing Confidence in Regulatory Outlook

The decision to include XRP in the proposed ETF is notable amid ongoing regulatory scrutiny surrounding the token. Its inclusion suggests increased institutional acceptance of XRP’s legal standing following partial court victories against the SEC.

Grayscale joins institutional investors now catering to assets beyond Bitcoin and Ethereum for their portfolios. The inclusion of XRP, SOL, and ADA with other altcoins in this fund shows their objective of asset diversity.

Traditional investors can access major digital assets through one investment choice with the proposed ETF. This development may improve XRP’s exposure in institutional markets and liquidity status.

The review process for Grayscale’s funds occurs every quarter as per updates published on their website. Such mechanisms enable the fund to modify its investments when market and digital asset position rankings change.

By filing for an ETF conversion, Grayscale continues to push for increased accessibility to crypto investments. The inclusion of XRP marks a key milestone, as it remains one of the most discussed assets in the digital space.

Conclusion

Grayscale’s application to the SEC sets the stage for further ETF developments in the crypto market. If approved, the Digital Large Cap Fund could bring more visibility and institutional engagement to XRP and other included digital assets.

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