Quick overview

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Grayscale joined other asset managers in filing an S-1 to introduce a spot XRP ETF with the US SEC. This signals growing institutional interest and could accelerate market acceptance of XRP if the SEC approves spot ETF products. Grayscale filed an S-1 with the SEC for a spot XRP ETF.

Several other managers, such as WisdomTree and Bitwise, submitted similar filings, indicating clustered institutional interest. Market impact: XRP’s price and trading volume increased by more than 10%, reaching around $3; analysts suggest possible inflows into cryptocurrency markets.

The filing enables the creation and sale of ETF shares backed by XRP holdings, further boosting institutional interest in spot crypto ETFs. Approval of a spot XRP ETF could draw new institutional capital, potentially driving gains in major cryptocurrencies like Ethereum and Bitcoin.

Historically, approvals of other assets by ETFs have led to increased trading volume and clearer pricing in related markets.

XRP surged sharply as investors responded to recent developments in the Ripple SEC lawsuit, which was officially closed

James K. and the parties filed a Joint Stipulation of Dismissal of Appeals in August concerning the Ripple lawsuit.

The Second Circuit’s approval highlighted the formal end of the legal dispute. The XRP Ledger ecosystem, especially the Ripple USD stablecoin, RLUSD, posted high market activity