Investor demand for XRP-based financial instruments is expanding as institutional interest in regulated digital asset exposure deepens. Grayscale Investments filed Amendment No. 1 to its Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on Oct. 10 for the Grayscale XRP Trust. The Delaware statutory trust, which will be renamed Grayscale XRP Trust ETF once the filing is effective, is intended to provide investors with indirect exposure to XRP without requiring direct token ownership or custody management.

The filing details:

Prior to this offering, there has been no public market for the shares. The Trust intends to list the shares on NYSE Arca Inc. under the symbol ‘GXRP.’

“The Trust intends to issue shares on a continuous basis and is registering an indeterminate number of shares. It is expected that the shares will be sold to the public at varying prices to be determined by reference to, among other considerations, the price of XRP and the trading price of the shares on the NYSE Arca at the time of each sale,” Grayscale explained.

The filing lists Edward McGee, chief financial officer of Grayscale Investments, as the primary executive, with The Bank of New York Mellon acting as transfer agent and Coinbase Custody Trust Company, LLC serving as custodian. Valuations of the trust’s holdings will be determined daily using the Coindesk XRP CCIXber Reference Rate at 4 p.m. New York time. Initially, shares will be created and redeemed through cash transactions, pending potential regulatory approval for in-kind processes.

The prospectus warns of risks related to XRP’s volatility, market liquidity, and the uncertain regulatory environment. Despite these challenges, advocates suggest that a regulated XRP exchange-traded fund could enhance transparency and investor protection while simplifying institutional access to the crypto market. When launched, the Grayscale XRP Trust ETF could represent a major milestone for XRP’s entry into mainstream capital markets, strengthening its position among leading digital assets.

• What is Grayscale’s latest move with the XRP ETF filing?
  Grayscale has filed an updated Form S-1 with the U.S. SEC to advance its plan for the Grayscale XRP Trust ETF, aiming to give investors indirect exposure to XRP without needing to hold the cryptocurrency directly.
• Why is Grayscale’s XRP ETF significant for institutional investors?
  The XRP ETF marks a crucial step in meeting institutional demand for regulated digital asset products, offering transparency, compliance, and simplified access to the crypto market through a traditional exchange listing.
• What are the key details of the Grayscale XRP Trust ETF?
  The ETF will trade under the symbol ‘GXRP’ on NYSE Arca, use Coinbase Custody as custodian, BNY Mellon as transfer agent, and will value XRP daily via the Coindesk XRP Reference Rate.
• How could the Grayscale XRP ETF impact XRP’s mainstream adoption?
  Launching a regulated XRP ETF could enhance investor confidence, boost liquidity, and further integrate XRP into mainstream financial markets, potentially elevating its position among top digital assets.

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