
NYSE Arca has filed an application with the SEC seeking to convert Grayscale’s XRP Trust into an exchange-traded fund.
If approved, Coinbase Custody Trust Company, LLC will serve as the custodian. At the same time, BNY Mellon Asset Servicing will act as the fund’s transfer agent, according to a 19b-4 filing submitted Thursday.
Grayscale’s XRP Trust is one of several investment vehicles the firm has converted or is in the process of converting amid surging demand for digital asset-based investment offerings.
The move follows the firm’s successful conversion of its Bitcoin Trust into a spot ETF on January 11, 2024, and its Ethereum Trust
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