A major development could be on the horizon for XRP Coin, as FOX reporter Eleanor Terrett hints at increased XRP ETF activity in the coming week. This speculation emerges as Grayscale pushes forward with its own XRP ETF initiative, signaling growing institutional interest.
Grayscale Moves Forward with XRP ETF Filing
Yesterday, Grayscale, in collaboration with NYSE, submitted a crucial registration statement for an XRP ETF. This filing notifies the SEC of Grayscale’s intent to convert its existing XRP Trust into an exchange-traded fund, increasing accessibility for institutional investors.
Notably, the Grayscale XRP Trust resumed operations five months ago and has since seen its assets under management surge by over $16 million. According to the latest SEC filing, this trust ranks among the leading XRP-focused funds worldwide. By transitioning from a trust to an ETF, Grayscale aims to expand its market presence significantly.
More XRP ETF Filings Expected Soon
News of this filing has sparked excitement within the XRP Coin community. Adding to the anticipation, FOX’s Eleanor Terrett revealed that additional XRP ETF filings could be made as early as next week.
In her latest post, she advised investors to “watch for more XRP ETF filings from issuers next week.” The growing number of applications is being interpreted as a strong indicator of increasing demand for XRP in traditional financial markets.
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XRPCafe co-founder Vet emphasized in a tweet that ETF filings are not arbitrary, stating: “Customers want this,” underscoring how institutional investors are increasingly turning toward XRP. With Grayscale’s latest move, the total number of asset managers officially seeking an XRP ETF has now reached eight, including Bitwise, CoinShares, and WisdomTree.
Will BlackRock File for an XRP ETF?
Among all potential applicants, the XRP Army is most eager to see a filing from BlackRock, the financial giant managing over $10 trillion in assets.
BlackRock has already found massive success with its Bitcoin ETF, attracting over $40 billion in inflows within a year. It even ranked among the top three best-performing ETFs globally in 2024. Given this, XRP enthusiasts are hopeful that BlackRock will follow suit with an XRP ETF.
However, the firm has pointed out that its existing Bitcoin and Ethereum ETFs still have relatively low adoption among investors. For now, BlackRock appears focused on expanding its current crypto ETF offerings rather than launching a new XRP ETF.
Nevertheless, with the latest teasers hinting at more XRP ETF filings next week, speculation is growing that BlackRock might still be in the equation.
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