Grayscale submits Ripple spot ETF application to US SEC

Asset management company Grayscale has submitted an application to U.S. financial regulators for a Ripple (XRP) spot ETF.
On the 30th (local time), Grayscale filed a lawsuit against the U.S. Securities and Exchange Commission (SEC).
Bloomberg ETF analyst James Seyfat said, "This application is a conversion of a Ripple-based trust product into an ETF."
The trust product in question manages assets worth approximately 16 million dollars (approximately 2.47 billion yen).