2-7-2025 – The U.S. Securities and Exchange Commission has approved the conversion of Grayscale’s Digital Large Cap Fund (GDLC) into a spot exchange-traded fund (ETF) on NYSE Arca, incorporating XRP alongside Bitcoin, Ethereum, Solana, and Cardano, as first reported by crypto.news.
This marks a significant step for XRP, offering U.S. investors regulated exposure to the cryptocurrency through a mainstream financial product.The GDLC, launched in 2018 with $606 million in assets under management, tracks the CoinDesk 5 Index, allocating approximately 80.2% to Bitcoin, 11.4% to Ethereum, 4.8% to XRP, 2.8% to Solana, and 0.8% to Cardano as of July 1. The ETF structure enables daily share creation and redemption, enhancing liquidity for investors who can now access XRP without navigating crypto exchanges.
This approval follows years of legal battles between the SEC and Ripple, with a recent court ruling clarifying XRP’s non-security status for retail sales, boosting confidence in its inclusion.The move signals a shift in the SEC’s stance on crypto investment products, particularly under Acting Chairman Mark Uyeda, amid a pro-crypto policy environment. The ETF’s approval could pave the way for standalone XRP ETFs, with 17 applications from firms like Bitwise, WisdomTree, and Canary Capital pending SEC review.
XRP’s price rose 6.1% to $2.30, reflecting market optimism, per CoinMarketCap data.The SEC’s decision on pending XRP ETF filings, expected by October 2025, will be critical for further mainstream adoption.
