Marking one year since its launch, Grayscale’s XRP Trust has become a significant player in the cryptocurrency market. The trust, which allows investors to gain exposure to the XRP token without directly handling it, has seen impressive growth, reaching almost $17 million in assets under management. This milestone coincides with increased optimism surrounding an eventual SEC approval for a spot XRP ETF. The trust’s popularity and the timing of Grayscale’s filing for its XRP-based ETF follow closely on the heels of favorable regulatory changes under the new US administration. With 301,500 outstanding shares, the trust has proven successful in providing convenient access to XRP, but the road to a formal exchange-traded fund faces competition from other hopeful applicants. Despite this, Grayscale’s track record with Bitcoin and Ethereum ETFs suggests a high probability of SEC approval for their XRP ETF, with odds on Polymarket currently exceeding 94%.