Grayscale Investments has submitted a proposal to convert its XRP (CRYPTO: XRP) Trust into an exchange-traded fund at the New York Stock Exchange. The move comes as part of a broader effort by asset managers to introduce regulated investment vehicles for digital assets.

Grayscale Investments has filed to convert its $16 million XRP Trust into an NYSE-listed ETF, joining five other firms awaiting approval amid rising trading volumes and potential government interest in the digital asset.

Ripple Labs president Monica Long remarked an XRP ETF could “soon be a reality” under the new Trump administration.

Crypto asset manager Grayscale Investments has filed for Spot $XRP ETF with the New York Stock Exchange (NYSE) in a move that could drive cryptocurrency adoption. Responding to a post on the X platform,

Grayscale has filed with the SEC to list an XRP ETF on the NYSE Arca, following last week’s Solana and Litecoin ETF filings.

The NYSE Arca moved Thursday to convert Grayscale's $XRP Trust into an $XRP ETF, effectively adding the crypto-focused asset manager into the list of institutions seeking to offer regulated exposure to the XRP Ledger's native cryptocurrency.