If the initiative prosper, it would point out a new era of regulatory recognition for XRP.
Until now, the SEC has only approved ETF of Bitcoin (BTC) and Ethher (ETH).
The New York Stock Exchange (NYSE) has presented to the United States Stock Exchange and Securities Commission (SEC), a Application to list and trade the Grayscale XRP Trust as a bottom quoted in the stock market (ETF).
This application, formalized through Form 19B-4reveals the plans of convert the current one trust In an ETF, potentially expanding your accessibility to a greater number of investors.
If this initiative prosper, it could point out a new era of legitimacy and regulatory recognition for XRP, cryptocurrency issued by the Ripple Labs company.
XRP, as cryptootics has reported extensively, is seen as a controversial digital asset due to its legal battles with the SEC. Now, on the other hand, it could be driven towards a new level of institutional and retail adoption.
The grayscale XRP Trust A ETF transition would allow a more fluid integration with traditional financial systems.
It is worth clarifying that now it is up to the SEC to approve or reject this proposal, which entails a process that can take several months.
