Grayscale has submitted a new filing to the United States Securities and Exchange Commission seeking approval to convert its Digital Large Cap Fund into a spot exchange-traded fund.
The fund includes XRP, which has drawn renewed attention following Grayscale’s decision to include it alongside four other major digital assets.
This move follows Grayscale’s earlier success in converting its Bitcoin and Ethereum Trusts into spot ETFs, which began trading in early 2024. The firm’s growing interest in regulated investment vehicles signals a shift toward greater mainstream integration of digital currencies.
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XRP Secures Strong Position Among Top Holdings in the Fund
According to data published on the Grayscale website, the Digital Large Cap Fund currently holds five digital assets. Bitcoin dominates the portfolio with a weight of 79.4 percent.
Ethereum brings in a 10.69 percent share ownership while taking second spot. XRP ranks third in the fund with a 5.85 percent allocation, ahead of Solana at 2.92 percent and Cardano’s ADA at 1.14 percent.
Given the token’s legal troubles, the file’s inclusion of XRP stands out. The proposed ETF contains XRP, indicating potential rising market confidence in its approval status and its place within the financial landscape.
The latest SEC document from Grayscale Investment was submitted to the agency on April 1. By applying a regulatory framework, the company plans to create an investment vehicle that combines institutional and individual access to diversified portfolios of high-performing digital assets.
The ETF structure proposed by the company will enable real-time trading while providing institutional and individual investors with traditional brokerage account access to these digital assets. The proposed plan would deliver better market liquidity while reducing the typical costs that crypto trusts currently command.
The Time of this conversion’s approval from market observers signals better acceptance for XRP and other altcoins’ institutional investment roles. The XRP’s position in the fund demonstrates its important standing among Bitcoin and Ethereum as the leading players in the industry.
Grayscale’s filing comes as competition in the crypto ETF space intensifies, with firms racing to expand their offerings beyond Bitcoin and Ethereum. The focus now turns to the SEC’s response, which will determine the future of this multi-asset digital ETF.
Conclusion
The SEC’s decision on Grayscale’s proposal will be critical for the broader acceptance of multi-asset crypto ETFs. It could open new doors for XRP and similar assets to enter more conventional financial products if approved.
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