XRP News Today: SEC Approves Grayscale’s Multi-Crypto ETF Including XRP, Boosting Approval Odds to 95%

The U.S. Securities and Exchange Commission (SEC) has approved Grayscale Investments’ application to convert its Digital Large Cap Fund (GDLC) into a spot exchange-traded fund (ETF). This move will see GDLC become a publicly traded ETF offering exposure to several crypto assets within a single structure. The GDLC fund currently includes a mix of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA). It is modeled on the CoinDesk 5 Index, which measures the performance of the five largest and most liquid digital assets.

Earlier in the week, investment advisor Nate Geraci predicted a “high likelihood” of GDLC getting the regulatory thumbs up following a pro-crypto turnaround at the SEC. The green light, confirmed in a Monday filing, has seen optimism grow among investors who see the move as a positive signal for potential future approval of altcoin-specific ETFs. This is due to the inclusion of these assets in GDLC’s structure. Geraci noted that the fund could be seen as a low-risk “test run” for the SEC before it gradually starts considering other crypto assets. “See where this is all heading? Individual spot XRP, SOL, ADA, etc, ETFs up next,” wrote the expert.

His optimism was shared by analysts who recently released an update to their crypto ETF approval odds. The two said there is now a 95% probability that the SEC will approve spot ETFs for LTC, SOL, and XRP this year. In May, the financial watchdog extended its review timeline for several crypto ETFs, including those tied to XRP and Dogecoin (DOGE), to obtain public feedback. However, financial authorities have been quicker off the mark, approving a couple of spot ETFs tracking XRP in June.

GDLC will join Grayscale’s existing lineup of converted products following the approval of the firm’s Bitcoin Trust ETF (GBTC) in January 2025. It introduces one of the first regulated products tracking several digital assets. Subject to periodic rebalancing, the fund’s structure allows daily share creation and redemption, potentially reducing the premium and discount issues that affected GDLC as a closed-end product. Grayscale has also said that any asset subject to enforcement action may be removed from the index during rebalancing. Trading for the converted ETF is expected to begin shortly, pending final operational readiness and exchange coordination.

This approval marks a significant milestone in the cryptocurrency market, as it is the first multi-crypto basket index to trade as an ETF. The fund includes major cryptocurrencies such as bitcoin, ethereum, XRP, solana, and others. This move by the SEC has sparked speculation and optimism among analysts and investors alike, particularly regarding the potential approval of a spot Ripple (XRP) ETF. The approval of Grayscale's ETF has raised the odds of a spot XRP ETF being approved to 95%, according to analysts. This optimism is fueled by the SEC's decision to include XRP in the approved ETF, despite the ongoing legal battle between Ripple and the SEC. The legal case, which has been ongoing for five years, has recently seen Ripple withdraw its cross-appeal, bringing the case to a close. This development, coupled with the SEC's classification of XRP as a commodity, has further bolstered hopes for a spot XRP ETF.

The final decision deadline for XRP's spot ETF is set for October 10, 2025. The inclusion of XRP in Grayscale's ETF has also led to predictions about the future price of XRP. Some analysts have suggested that XRP could see a breakout to $2.25, but this depends on its ability to hold above $2.16. The approval of the ETF has also had an impact on the price of XRP, which dropped by 2.93% amid the SEC's silence on the appeal. However, the overall sentiment remains positive, with the odds of approval for a spot XRP ETF nearing the 100% mark.