NYSE Arca Proposes Listing Grayscale XRP ETF
NYSE Arca filed a proposal with the U.S. Securities and Exchange Commission (SEC) on Jan. 30 to list and trade shares of the Grayscale XRP Trust under NYSE Arca Rule 8.201-E. According to the filing:
The trust is one of the world’s largest XRP investment funds by assets under management as of the date of this filing. The trust has approximately $16.1 million in assets under management.
The proposed listing aims to offer investors regulated exposure to XRP without the complexities of directly purchasing or securing the cryptocurrency. Managed by Grayscale Investments Sponsors LLC, the trust has Coinbase Custody Trust Company LLC as its custodian and BNY Mellon Asset Servicing as its transfer agent. If approved, the trust would operate as a spot XRP exchange-traded product (ETP), allowing shares to be traded on a national securities exchange.
The trust’s structure ensures that its assets consist solely of XRP, with no active management or trading strategy. The SEC filing clearly states: “The trust will not be actively managed. It will not engage in any activities designed to obtain a profit from, or to ameliorate losses caused by, changes in the market prices of XRP.”
Shares will represent a proportional interest in the trust’s total XRP holdings, adjusted for expenses. To value its assets, the trust will use an Index Price calculated from major digital asset trading platforms like Coinbase, Crypto.com, Kraken, LMAX Digital, and Bitstamp. The Index is designed to mitigate fraud and price manipulation by filtering out anomalies. The trust will allow creation and redemption of shares through authorized participants who transact in cash rather than directly with XRP.
NYSE Arca has implemented trading rules and surveillance measures to ensure compliance with SEC regulations and protect investors. Shares will trade between 4:00 a.m. and 8:00 p.m. ET, with real-time market data available from Bloomberg, Reuters, and other financial services. The exchange has also introduced trading halts, transparency requirements, and investor safeguards to maintain market integrity. If approved, the Grayscale XRP Trust would mark a significant step toward bringing XRP-based investment products into the mainstream, offering a regulated alternative for cryptocurrency investors.
