Seyffart says that ongoing SEC lawsuits involving XRP assert that the cryptocurrency is a security, barring it from being approved for an ETF. If Atkins is confirmed, it is likely

The XRP price edged down a fraction after Grayscale filed for a Spot XRP ETF, while this crypto wallet token closes on $9 million in presale.

The NYSE Arca moved Thursday to convert Grayscale's $XRP Trust into an $XRP ETF, effectively adding the crypto-focused asset manager into the list of institutions seeking to offer regulated exposure to the XRP Ledger's native cryptocurrency.

NYSE Arca, a New York Stock Exchange subsidiary, filed the paperwork to transform Grayscale’s $16.1 million XRP Trust into a spot exchange-traded fund (ETF). According to the filing, Coinbase Custody Trust Company,