20 Feb 2025
📈SEC Approves Grayscale XRP Trust Trading Proposal
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Shares of the Grayscale XRP Trust Under NYSE Arca Rule 8.201-E (Commodity-Based Trust Shares)
Summary
The SEC published a notice regarding the proposed rule change by NYSE Arca to list and trade shares of the Grayscale XRP Trust. This initiative seeks to provide a regulated means to invest in XRP through an exchange-traded product, reflecting the ongoing evolution and acceptance of digital assets in the financial markets.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The notice outlines the SEC's approval for trading shares of the Grayscale XRP Trust, which affects compliance and regulatory requirements for businesses interested in cryptocurrency investments. Executives will need to understand the impact of this product on market dynamics and investor exposure to XRP.