Crypto giant Grayscale has requested approval from the SEC to convert its Digital Large Crypto Fund into an exchange-traded fund (ETF). This new ETF will include XRP, Ripple’s digital currency. 📈
Grayscale already successfully converted its Bitcoin and Ethereum trusts into spot ETFs, starting in 2024.
The new fund, comprised of five major cryptocurrencies – Bitcoin, Ethereum, XRP, Solana and Cardano’s ADA – reflects the company’s strategic approach to expanding investment opportunities for digital assets.
According to Grayscale’s website, Bitcoin currently holds the largest position (79.4%), followed by Ethereum (10.69%) with XRP in third place (5.85%).
Grayscale submitted the application on April 1st.