Grayscale Unveils GXRP ETF on NYSE Arca as XRP Ledger Reaches 4 Billion Transactions

Grayscale Investments has announced the launch of the Grayscale XRP Trust ETF (GXRP) on NYSE Arca.

Key Takeaways

Grayscale launched the GXRP ETF on NYSE Arca, structured as an exchange-traded product.
GXRP offers investors exposure to XRP but does not provide direct ownership of the token.
The XRP Ledger has exceeded 4 billion transactions, showcasing its reliability for cross-border payments.
Analysts expect over 100 new crypto ETFs to launch in the coming months, indicating increased institutional interest.

xrp price tracker

In a recent press release, the company clarified that the GXRP is structured as an exchange-traded product, differing from a 1940-Act ETF. This means that it does not come under the regulatory criteria or protections typically offered to registered ETFs and mutual funds.

Due to this structure, GXRP comes with considerable risk, including the possibility of losing principal investment. Although the GXRP holds XRP, it does not grant investors actual ownership of the token.

Krista Lynch, Senior Vice President of ETF Capital Markets at Grayscale, views this launch as a significant development for investors who want simpler access to XRP.

Lynch emphasizes that GXRP aims to efficiently track XRP and provide straightforward exposure to the asset, thereby broadening investor access to the entire XRP ecosystem. Initially launched as a private placement in September 2024, its transition to public markets indicates growing institutional interest in established blockchain networks.

XRP Ledger Hits a Major Milestone

The introduction of GXRP coincides with the XRP Ledger (XRPL) achieving over 4 billion processed transactions, highlighting the network's robustness and long-term reliability.

Since its inception in 2012, the XRPL has established itself as a specialized blockchain focused on cross-border payments and high-throughput financial activities. While not specifically designed for general-purpose smart contracts, XRPL includes several powerful features such as token issuance, a built-in decentralized exchange, and support for non-fungible tokens (NFTs).

The Importance of XRP in the Network

XRP is the native digital asset of the XRP Ledger and is crucial for maintaining the security and functionality of the network. It is required for all transaction fees on the ledger, which helps prevent spam and ensures predictable costs for executing transactions.

As a highly liquid bridge asset, XRP enables smooth transitions between fiat currencies and ensures instant settlements for financial institutions and fintech platforms operating on XRPL. Its role in providing real-time liquidity supports the ledger's goal of enabling scalable global payments.

Amplify Launches XRP-Based Option Income ETF

Recently, Amplify ETFs launched the first XRP-based option income exchange-traded fund, named the Amplify XRP 3% Monthly Premium Income ETF (XRPM).

This new fund is part of Amplify's YieldSmart family, which is designed to balance income generation with capital appreciation through options-focused strategies. XRPM provides exposure to XRP's price movements while aiming for high, recurring income via an actively managed covered call approach.

A Busy Week for Spot Crypto ETF Launches

This week is particularly active for spot crypto ETF launches, with several products set to debut across major U.S. exchanges.

According to recent filings highlighted by Bloomberg Intelligence, at least five spot ETFs are scheduled to launch in the next six days, covering assets including XRP, Solana, and Dogecoin.

Notable newcomers include the Grayscale Dogecoin Trust conversion (GDOG) and the Grayscale XRP Trust conversion (GXRP), both of which are expected to go live on November 24. They will be joined by Bitwise’s DOGE ETF (BWOW) and Franklin’s XRP-related product (XRPZ), launching soon thereafter.

These developments are part of a larger trend of increasing crypto ETF approvals, as issuers aim to provide mainstream access to an expanding array of digital assets.

Looking beyond this week, there are many more filings indicating a solid pipeline extending into early December. Grayscale’s Chainlink Trust (GLNK) is anticipated to debut on December 2, alongside additional Solana and XRP-related products from Bitwise and Canary, which are progressing through the approval processes.

Analysts predict that more than 100 crypto ETFs may launch over the next six months, reflecting a growing institutional interest and a regulatory landscape that is becoming more conducive to diversified digital asset exposure.