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

Ripple Labs president Monica Long remarked an XRP ETF could “soon be a reality” under the new Trump administration.

The NYSE Arca moved Thursday to convert Grayscale's $XRP Trust into an $XRP ETF, effectively adding the crypto-focused asset manager into the list of institutions seeking to offer regulated exposure to the XRP Ledger's native cryptocurrency.

Grayscale has filed with the SEC to list an XRP ETF on the NYSE Arca, following last week’s Solana and Litecoin ETF filings.

The world's third-largest cryptocurrency could gain mainstream investment access as Grayscale seeks SEC approval for first-ever XRP ETF product.