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International Business Times UK
International Business Times UK
Niloy Chakrabarti

XRP Soars 12% as SEC Acknowledges Grayscale ETF Filing for Review

SEC XRP ETF Crypto United States
SEC's XRP ETF review process could be as long as 240 days. (Credit: X / JackTheRippler ©️ @RippleXrpie)

On 14th February, Ripple XRP prices surged by over 12% to £2.17 ($2.73) after the US Securities and Exchange Commission (SEC) officially acknowledged Grayscale's 19b-4 filings to convert its existing XRP Trust into a spot XRP exchange-traded product (ETP) for listing on the NYSE Arca.

The XRP Trust is among the world's largest XRP investment funds, with £12.8 million ($16.1 million) in assets under management. Converting the XRP trust to an ETP would ensure enhanced liquidity and accessibility, which could drive investors' demand for XRP tokens.

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