Grayscale has filed a 19B-4 form with the New York Stock Exchange (NYSE) to exchange its XRP trust on January 30, which is equivalent to converting the product to the Stock Exchange (ETF).
Confidence was presented on September 12 And currently holds $ 16 million, which is equivalent to 1.2% of the total assets under the management of the negotiated products in exchange XRP (ETP), like Coinshares reported.
When the trust was introduced, the cryptographic community began to speculate on a potential FNB deposit.
Recently, JPMorgan estimated that XRP ETPs could attract between $ 4 and $ 8 billion. The estimate used Bitcoin (BTC) and Ethereum (ETH) products and their respective stock capitals as a base.
ETF RUN
One of the most common arguments against the approval of an XRP ETF is the lack of previous term contracts for these assets. However, a CME page disclosed Discussed at the future XRP and Solana (soil) launched on February 10.
Despite the leak, CME did not publish an official declaration and the page was quickly withdrawn.
Nevertheless, analysts of Bloomberg ETF Eric Balchunas and James Seyffart foreseen A “wave of FNB Crypto” this year, including XRP funds.
However, they said that they could take a while, given that the judicial prosecution of the Securities and Exchange Commission (SEC) claiming that XRP is an unregistered guarantee.
The chances of approval from the ETF XRP can increase, such as President Donald Trump would have spoken to wave About the addition of XRP, the USD (USDC) and soil part to potential digital asset storage for the country.
In addition to the XRP trust in gray levels, five other ETF XRP spotsPosed by Bitwise, Canary Capital, 21Shares, Wisdomtree and Rex & Osprey, await approval.
Mentioned in this article
Gino MATOS
Gino Matos graduated from the Faculty of Law and experienced journalist with six years of experience in the cryptography industry. Its expertise focuses mainly on the ecosystem of Brazilian blockchain and developments in decentralized finance (DEFI).
