-
Grayscale has launched the GXRP Trust ETF tracking XRP on NYSE Arca.
-
The product converts a private XRP trust first offered in 2024.
-
GXRP follows earlier XRP ETFs from Canary Capital and REX Shares.
-
The launch builds on Ripple’s partial legal victory and a more permissive SEC approach under the current administration.
GXRP Brings Exchange Listed XRP Exposure To Grayscale Investors
Grayscale has added another altcoin to its growing ETF lineup with the launch of the Grayscale XRP Trust ETF (GXRP) on NYSE Arca. The fund, which began as a private placement in September 2024, now offers public market access to XRP through a familiar ETF wrapper.
Krista Lynch described GXRP as a tool for efficient tracking and straightforward exposure to the XRP ecosystem. The listing lands on the same day Grayscale’s Dogecoin ETF goes live, underscoring the firm’s push beyond bitcoin and ether.
Following Earlier XRP ETF Entrants And A Resolved Court Battle
GXRP joins existing XRP funds from Canary Capital and REX Shares. XRP itself is the fourth largest crypto asset by market cap and underpins Ripple’s cross border payment network, which aims to enable fast, low cost international transfers for banks and payment companies.
XRP’s regulatory overhang has largely cleared. The SEC’s long running case against Ripple centered on whether XRP sales were unregistered securities offerings. A New York judge concluded that certain “programmatic” exchange sales did not violate securities laws, even as some direct institutional deals were found to be securities transactions. Both sides ultimately dropped their remaining appeals earlier this year.
Grayscale’s Broader ETF Strategy And Regulatory Shift
Grayscale has now converted multiple closed end trusts into exchange traded products, including those holding bitcoin, Ethereum, Dogecoin, and Solana. Its landmark legal win forcing the SEC to revisit the GBTC conversion helped unlock the wider wave of spot crypto ETFs.
The SEC’s posture has shifted under the second Trump administration, with crypto roundtables, dropped investigations in some cases, and “Project Crypto” aimed at updating digital asset rules. Against that backdrop, Grayscale filed an S 1 to list under the ticker GRAY and estimates a 365 billion dollar addressable market across its 45 asset product suite.
