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

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 XRP price edged down a fraction after Grayscale filed for a Spot XRP ETF, while this crypto wallet token closes on $9 million in presale.

Grayscale Investments has filed to convert its $16 million XRP Trust into an NYSE-listed ETF, joining five other firms awaiting approval amid rising trading volumes and potential government interest in the digital asset.

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.

NYSE Arca, a New York Stock Exchange subsidiary, filed the paperwork to transform Grayscale’s $16.1 million XRP Trust into a spot exchange-traded fund (ETF). According to the filing, Coinbase Custody Trust Company,

NYSE Arca, a subsidiary of the New York Stock Exchange, took a significant step toward converting Grayscale's XRP Trust into a spot exchange-traded fund (ETF). The move was initiated through the submission of a 19b-4 filing, indicating a formal proposal for the conversion process.

On January 29, Thursday, the XRP price jumped over 2% to reach a trading value of $3.12. This upswing is likely to be linked to a broader market uptick after the Federal Reserve’s steady interest rate policy and growing ETF buzz after Grayscale filled with the New York Stock Exchange (NYSE).