XRP has made significant waves in the exchange-traded fund (ETF) market with its inclusion in Grayscale’s latest crypto investment offering. The recent debut of Grayscale’s Digital Large Cap Fund ETF (GDLC) on the NYSE Arca has caught the attention of investors by amassing nearly $22 million in trading volume on its first day.

Debut day excitement: GDLC ETF trades $22M featuring leading cryptocurrencies like XRP, ADA, and Bitcoin.

Strong Market Interest for XRP and Digital Asset ETFs

The early success of the GDLC ETF is notable given that most ETF launches generate under $1 million in volume initially, according to Bloomberg’s ETF analyst Eric Balchunas. In contrast, GDLC saw 381,298 shares traded, underscoring investor enthusiasm for diversified exposure to major cryptocurrencies, including XRP and ADA.

GDLC is a multi-asset product that allocates investments across five cryptocurrencies: 72% in Bitcoin, 17% in Ethereum, 6% in XRP, 4% in Solana, and 1% in Cardano. With over $931 million in managed assets, GDLC stands out as one of the most robust crypto ETFs available to U.S. investors.

Regulatory Breakthrough Paves the Way

The launch of the GDLC ETF wasn’t without obstacles. Its transition from a closed-end structure to an ETF format faced early resistance from the U.S. Securities and Exchange Commission (SEC), which momentarily paused the process. However, a shift arrived with the introduction of generic listing standards on September 18. These new rules by the SEC streamline the approval process for crypto-based ETPs across major exchanges such as Nasdaq, Cboe, and NYSE.

Rather than requiring a distinct 19b-4 approval for each ETF, issuers now file a Form S-1, initiating a 75-day review period. This change accelerates the introduction of similar products while ensuring essential thresholds around liquidity, volume, and market capitalization are met.

Grayscale CEO Peter Mintzberg praised the SEC’s crypto asset task force for providing what he described as “the regulatory clarity our industry deserves.” This sentiment reflects a growing cooperation between regulators and crypto firms after years of uncertainty.

Booming Interest in Multi-Asset Crypto ETFs

Industry analysts project that basket-style ETFs like GDLC could become the next major trend in digital asset investment. Bloomberg’s James Seyffart anticipates these instruments could rank just behind Bitcoin-only funds, which already command over $100 billion in assets globally.

As interest grows, numerous firms—including Bitwise, Hashdex, and Franklin Templeton—have filed similar applications for multi-token crypto ETFs. These filings, still awaiting SEC approval, may benefit from the streamlined listing standards, potentially bringing more diversified crypto products to traditional investor platforms.

The structure of GDLC offers improved liquidity through in-kind creation and redemption capabilities. This transition eliminates the steep premiums and discounts previously associated with the fund’s closed-end format, creating a vehicle that aligns more accurately with its underlying asset values.

Implications for XRP and the Broader Market

The successful debut of GDLC not only underscores broader institutional and retail interest in cryptocurrency ETFs but also places XRP in the spotlight as a trusted component within a regulated investment product. XRP’s inclusion in GDLC reflects its growing prominence among digital assets that meet institutional requirements for transparency and liquidity.

Related: XRP Price: $12M Max Pain for Bears

This milestone signals a stronger future for compliant investment pathways in digital assets and may elevate XRP’s standing among asset managers focused on broader crypto diversification strategies.