Oh, another amendment? What’s the deal with these filings? 🙄 Grayscale Investments has filed Amendment No. 2 to its registration statement for the Grayscale XRP Trust, marking another step toward launching a spot XRP ETF. Because nothing says “we’re serious” like adding another layer of paperwork. 📄😅
The updated filing, submitted to the SEC on November 3, 2025, provides new details about the fund’s structure, management, and operational plans. Because who doesn’t want to read 100 pages of “operational plans”? 📚
According to the submission, the trust aims to offer investors exposure to XRP through shares that track the digital asset’s market price. Because who wouldn’t want to bet on a digital asset that’s as stable as a penguin on a skateboard? 🐧💸
The trust is organized under Delaware law and plans to list on NYSE Arca under the ticker GXRP, pending regulatory approval. Because “GXRP” sounds way more official than “XRP”. 📈
The filing clarifies that the product will operate as a passive investment vehicle, meaning it will not seek to outperform XRP’s market performance. Instead, its goal is for each share’s value to reflect the underlying XRP held by the trust, minus expenses and liabilities. Because “passive” is just a fancy way of saying “we’re not trying to be smart”. 🤡
The fund will issue shares in blocks of 10,000, referred to as “Baskets,” which authorized participants can create or redeem in exchange for XRP or cash. Because nothing says “investor-friendly” like needing a whole bunch of shares. 🧮
Coinbase Custody will serve as the custodian, while The Bank of New York Mellon will act as administrator and transfer agent. Because who better to hold your crypto than a company that’s already been through enough? 🤷♂️
XRP’s Market Position
As of October 30, 2025, XRP ranked as the fifth-largest cryptocurrency by market capitalization, valued at approximately $170 billion. The asset has shown significant price volatility over the past year, trading between $0.50 and $3.55, with an average price of $2.25. Because nothing says “stable” like a price that’s as consistent as a rollercoaster. 🎢
The filing shows that XRP’s primary function remains transactional utility within the XRP Ledger, which enables fast, low-cost transfers. Unlike Bitcoin, XRP was pre-mined at launch, with 100 billion tokens created. Around 59.8 billion are currently in circulation. Because why wait for mining when you can just create 100 billion tokens at launch? 🚀
Part of a Broader Institutional Push
The amendment comes amid growing institutional interest in altcoin-based ETFs, following the recent approval of Solana, Litecoin, and Hedera products. Because nothing says “we’re serious” like approving ETFs for Solana, Litecoin, and Hedera. 🏦
The SEC’s review of the XRP ETF is expected to continue into late 2025, with a final determination anticipated before the end of the year. Because why rush when you can take forever? ⏳
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2025-11-04 07:43