First altcoin spot ETF beyond BTC/ETH：$XRP ETF Goes Live

ETF_Tracker
11-25

Grayscale $None(XRP)$ ETF Goes Live Monday as Franklin Templeton Touts "Foundational" Role

How would you like to engage with this ETF?

Are there any similar ETFs?

Yes—several spot crypto ETFs already trade:

$Bitcoin(BTC.USD.CC)$ : $iShares Bitcoin Trust(IBIT)$ (BlackRock), $Fidelity Wise Origin Bitcoin Fund(FBTC)$ (Fidelity), $Grayscale Bitcoin Trust(GBTC)$ (Grayscale) — launched January 2024, collectively hold $60B+ in assets.

Ethereum: $iShares Ethereum Trust ETF(ETHA)$ (BlackRock), $Fidelity Ethereum Fund(FETH)$ (Fidelity), $Grayscale Ethereum Trust(ETHE)$ (Grayscale) — debuted July 2024, with lighter volume but growing adoption.

Key difference:

$None(XRP)$ is the first altcoin spot ETF beyond BTC/ETH.

Solana (SOL) and Litecoin (LTC) applications are pending, but the SEC has been slower to approve non-BTC/ETH products.

The catalyst of $None(XRP)$ :

Grayscale's spot XRP ETF begins trading on Monday, marking the first U.S.-listed exchange-traded product giving equity investors direct exposure to Ripple's token. The launch comes just as Franklin Templeton—managing $1.7 trillion in assets—published a research note declaring XRP "plays a foundational role in global settlement infrastructure."

Why stock investors should care:

This isn't another meme coin. XRP is designed for cross-border payments, aiming to replace slow, expensive correspondent banking networks. Think of it as SWIFT 2.0—a digital bridge currency that lets banks settle international transactions in seconds instead of days. Franklin Templeton's endorsement signals that legacy financial institutions are taking XRP's utility seriously, not just its speculative value.

The ETF wrinkle:

Grayscale's product converts its existing XRP trust into a spot ETF, potentially unlocking $500M+ in pent-up institutional demand. For stock investors, it removes crypto custody headaches—you can now hold XRP in a standard brokerage account like any equity ETF.

But the SEC shadow remains:

Ripple is still battling the SEC over whether XRP is a security. While the trust's launch implies some regulatory clarity, the case isn't fully resolved. Volatility will be extreme, and the token could move 10% on any court headline.

Bottom line:

If you're looking for a regulated way to bet on the modernization of global payments infrastructure—not just crypto speculation—Tuesday's ETF launch offers a new, albeit high-risk, vehicle. Just size it like a biotech stock, not a bond allocation.

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  • denibalance
    ·11-26
    Great article, would you like to share it?
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