Grayscale is adding another exchange-traded fund to its lineup — the Grayscale XRP Trust ETF to provide “straightforward exposure” to investors.
The firm debuted its fund tracking the value of XRP under the ticker symbol GXRP on NYSE Arc on Monday, the same day it launched its Dogecoin ETF. The ETF was first launched as a private placement in Sept. 2024 before being converted.
“GXRP’s debut on NYSE Arca is another meaningful step in broadening access to the growing XRP ecosystem,” said Krista Lynch, senior vice President, ETF Capital Markets at Grayscale, in a statement. “GXRP is designed to offer efficient tracking and straightforward exposure to XRP for investors.”
Grayscale follows other firms that have debuted XRP ETFs, including Canary Capital and REX Shares. XRP is the fourth-largest cryptocurrency by market capitalization. It is associated with Ripple Labs and is designed to enable low-cost and fast international money transfers.
A few years ago, the U.S. Securities and Exchange Commission accused Ripple of raising $1.3 billion through the sale of XRP, which it said was an unregistered security at the time. A New York judge ruled that some of Ripple’s “programmatic” sales to exchanges did not violate securities laws because of a blind bid process in place for them. She did, however, rule that other direct token sales to institutional investors were securities.
The case wrapped up this year after both sides abandoned their appeals. During the second Trump administration, the SEC has taken a significantly different approach to crypto in part through hosting crypto roundtables, dropping investigations into crypto firms, and embarking on “Project Crypto” to update its rules for digital assets.
Grayscale has converted several of its closed-end trusts to exchange-traded products, including those tracking bitcoin, Ethereum, Dogecoin, and Solana. The firm’s legal fight with the SEC regarding its Bitcoin trust conversion opened the door to additional crypto-related ETFs.
Earlier in November, Grayscale submitted its S-1 filing seeking to go public on the NYSE under the ticker GRAY. The company estimates a $365 billion total addressable market for its suite of crypto investment products covering 45 assets.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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