TLDR
- Grayscale has launched its XRP ETF, GXRP, on the NYSE Arca exchange.
- GXRP provides regulated market access to XRP through an exchange-traded product.
- The product is not governed by the Investment Company Act of 1940.
- Krista Lynch from Grayscale said the ETF gives efficient access to XRP for investors.
- The XRP Ledger has processed more than 4 billion transactions since its launch in 2012.
Grayscale began public trading of its XRP ETF, GXRP, on NYSE Arca. The company confirmed the development in a press release. GXRP offers investors exposure to XRP through a regulated exchange-traded product.
Grayscale XRP ETF Begins Trading as GXRP
Grayscale listed GXRP as an exchange-traded product, not a traditional ETF under the Investment Company Act of 1940. This structure allows for different regulatory oversight and investment mechanics than those of mutual funds and standard ETFs.
Krista Lynch, Head of ETF Capital Markets at Grayscale, stated GXRP offers “simple and efficient” exposure to XRP. She emphasized that this move supports broader access to digital assets through public markets.
The company manages $35 billion in assets and said this launch aligns with its mission to expand access. GXRP became available after its initial private placement phase, which started in September 2024.
Canary Capital listed XRPC on November 13 and saw $243 million inflows on the first day of trading. Within 7 sessions, total inflows reached $306 million, indicating strong initial interest.
This XRP ETF was the first to list during the recent wave of spot ETF launches for the XRP asset. The product trades on a public exchange and provides market-based access to XRP for investors.
Its performance caught the attention of financial markets, as participants noted strong demand from institutional and retail channels. This strong debut reflected renewed market attention around XRP-based financial instruments.
XRP Ledger Technology Highlighted by Grayscale
Bitwise launched its own XRP ETF under the ticker XRP on November 20, one week after Canary’s XRPC listed. On its first day, it recorded $105.36 million in inflows and added $11.28 million the next.
Bitwise’s entry raised combined XRP ETF inflows to $422.66 million as of press time. Analysts now expect higher activity with Grayscale’s participation.
Grayscale’s public listing followed the product’s September 2024 launch as a private placement. The company anticipates increased participation following strong performances from XRPC and XRP.
In its announcement, Grayscale highlighted the XRP Ledger’s speed and efficiency in cross-border payments. The network has processed over 4 billion transactions since its 2012 launch.
Grayscale described XRP as the native asset that powers the ledger’s liquidity and transaction fee system. It emphasized the asset’s role in bridging different currencies within the network.
The company positioned GXRP as a vehicle that leverages the ledger’s real-world applications in financial services. It aims to make digital asset investment more accessible and mainstream.
Franklin Templeton will launch its XRP ETF, XRPZ, on NYSE soon, joining existing competitors. Canary Capital expects $5 to $10 billion in inflows during the first month across XRP ETF products.
GXRP enters a competitive environment shaped by rapid investor interest in XRP-based exchange-traded options. These products aim to provide easier, regulated access to XRP markets.
The XRP ETF space is expanding quickly with institutional backing and multi-platform listings across leading exchanges. GXRP now adds to this growing list of publicly accessible XRP ETFs.
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