NYSE Arca Files 19b-4 Filing to Convert Grayscale XRP Trust into Spot ETF

Odaily News NYSE Arca filed a 19b-4 filing seeking to convert Grayscale's XRP Trust, which has an asset management scale of approximately $16.1 million, into a spot ETF. The 19b-4 filing by the issuer exchange is the second part of the two-step process of applying for a spot crypto ETF to the U.S. Securities and Exchange Commission. The exchange submits a 19b-4 filing to the SEC to apply for changes to existing rules to allow the ETF to trade. This is a key part of the ETF approval process. Once approved by the SEC, the document will be published in the Federal Register to initiate the approval process.