Breaking: ETF with XRP Exposure Approved by SEC

Key Points

1. Grayscale's Digital Large Cap Fund has been approved by the SEC to convert into an exchange-traded fund (ETF) offering exposure to Bitcoin (BTC), Ethereum (ETH), and XRP.

2. This is the first US-based spot ETF to include multiple cryptocurrencies.

3. Bloomberg analysts expect other single-token ETFs for XRP, Solana (SOL), and others to be approved in the second half of the year.

4. Brazil was the first country to approve a spot XRP ETF in February, followed by Purpose Investments launching one in North America in June.

5. The approval signals a significant step in broadening cryptocurrency investment options in traditional financial markets.