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 that he will either wind down or drop these suits entirely, but it’s unclear when that will happen. The same applies for Solana ETFs, which Grayscale has also filed for.

A subsidiary of the New York Stock Exchange wants to convert Grayscale's XRP Trust into a spot exchange-traded fund (ETF).

Crypto fund behemoth Grayscale Investments has filed an application with the Securities and Exchange Commission (SEC) to convert its XRP Trust