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NYSE plans to apply to convert Grayscale Dogecoin Trust Fund into a ETF NYSE Arca has filed a Form 19b-4 with the U.S. Securities and Exchange Commission, planning to convert Grayscale's Dogecoin Trust into a spot exchange-traded fund. This move was made quickly shortly after …

In a significant development for XRP, NYSE Arca has officially filed a 19b-4 to convert Grayscale's XRP Trust into a spot ETF. With $16.1 million in assets under management, this move could be a major step forward for XRP adoption. But the big question remains: Will the SEC approve it, or are we in for another long wait? The SEC's Approval: A Waiting Game; The SEC's stance on crypto currency-related ETFs has been evolving. Recently, they have shown a willingness to approve crypto-related ETFs, such as the fast-tracked Bitwise Bitcoin and Ethereum ETF. However, the relationship between the SEC and XRP has been complicated, primarily due to past legal battles. The approval process could be lengthy, and the outcome remains uncertain. Investor Sentiment and XRP's Valuation; Ripple CEO Brad Garlinghouse has been vocal about XRP's portrayal and usage in the past. In an interview with CNBC, he mentioned that Ripple's previous valuation of $11 billion was outdated due to the surge in XRP's price and the growing demand for Ripple's blockchain solutions. He highlighted that Ripple's XRP holdings were now valued at over $100 billion, significantly altering the company's valuation outlook. Garlinghouse also expressed concerns about how XRP has been portrayed and used. In a recent interview, he criticized a 60 Minutes segment for omitting crucial information about a court ruling that declared XRP is not a security. He emphasized the importance of accurate information in shaping public perception and highlighted that misrepresentations about XRP and the broader crypto industry can hinder progress and innovation. Implications for XRP Adoption; If the SEC approves the conversion of Grayscale's XRP Trust into a spot ETF, it could have several positive implications for XRP adoption: - Increased Accessibility: A spot ETF would make it easier for institutional and retail investors to gain exposure to XRP without directly purchasing and storing the cryptocurrency. - Enhanced Credibility: Approval from the SEC would lend credibility to XRP, potentially attracting more investors who have been hesitant due to regulatory uncertainties. -Market Growth: Increased demand from investors could drive up the price of XRP, further solidifying its position in the cryptocurrency market. It's essential to stay informed and consider various perspectives when evaluating investments. Will XRP's value continue to rise, or are there other factors to consider? Only time will tell, but one thing is certain: the interplay between traditional finance and the crypto currency market continues to be a fascinating dance.

NYSE Arca Files 19b-4 Filing to Convert Grayscale XRP Trust into Spot ETF NYSE Arca filed a 19b-4 filing seeking to convert Grayscale's XRP Trust, which has an asset management scale of approximately $16.1 million, into a spot ETF. The 19b-4 filing by the issuer exchange is th…

The SEC has approved NYSE Arca’s proposed rule change to list and trade shares of the Bitwise Bitcoin and Ethereum ETF. The ETF will hold spot Bitcoin and Ethereum based on their market capitalization weight.

NYSE Arca moves to convert Grayscale's XRP trust as firms push for SEC signoff