On January 30, 2025, NYSE Arca, Inc. proposed a rule change to the Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale XRP Trust as a commodity-based trust share on the NYSE Arca. The Trust's main goal is to offer investors a way to gain investment exposure to XRP, a digital asset, on a regulated exchange. The Trust operates without active management and holds XRP, allowing investors to avoid the complexities of purchasing and securing XRP directly. The SEC is seeking public comments on this proposal and will decide whether to approve it within 45 to 90 days.
Simple Explanation
NYSE Arca wants to let people buy and sell shares of a special company that holds a digital coin called XRP, so they don't have to deal with getting the coin themselves. The plan is being checked to make sure everything is fair and safe for everyone.