Demex Daily #349: SEC Reviews Grayscale's XRP ETF Proposal

What’s Interesting Today:

The SEC has acknowledged Grayscale’s proposal to list an XRP ETF, initiating a federal review process that could take up to 240 days. Grayscale aims to convert its $16.1M XRP Trust into an ETF, with Coinbase Custody as custodian and BNY Mellon handling administration. The proposal addresses regulatory concerns, including price manipulation safeguards and compliance measures. If approved, it could validate XRP as an institutional asset and signal a more favorable stance on crypto ETFs. The SEC is now seeking public comments on the filing.

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Taurus, backed by Deutsche Bank, has launched a Solana-based custody and tokenization platform, Taurus-Capital, enabling banks to issue, manage, and stake digital assets. Leveraging Solana’s speed and efficiency, the platform caters to growing institutional demand for real-world asset (RWA) tokenization. Taurus’ expansion aligns with the increasing convergence of traditional finance and blockchain, especially among banks in Europe and the Middle East. Following a $65M Series B raise in 2023, Taurus continues to drive institutional adoption of digital assets, reflecting the broader shift toward blockchain-powered financial solutions.

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