Coinbase Integration Paves Way for Grayscale’s XRP ETF Advancement

In a significant development for cryptocurrency markets, Grayscale Investments has accelerated its push for the first U.S. spot XRP ETF through an updated SEC filing submitted on November 3, 2025. The amended registration statement details the operational framework for the Grayscale XRP Trust, which will employ a passive investment strategy tracking XRP's market price through Coinbase's pricing data. The trust plans to issue shares in standardized 10,000-unit Baskets and seeks listing on NYSE Arca under the ticker symbol GXRP. This strategic move represents a crucial milestone in institutional cryptocurrency adoption, particularly following the regulatory clarity achieved in recent years. The integration with Coinbase's market infrastructure ensures reliable price tracking and enhances the ETF's credibility among traditional investors. Market analysts view this development as potentially transformative for XRP's liquidity and mainstream acceptance, while also signaling growing institutional confidence in digital asset offerings. The filing's timing suggests Grayscale is positioning itself to capitalize on evolving regulatory landscapes and increasing demand for regulated cryptocurrency investment vehicles. If approved, GXRP would join the growing ecosystem of spot cryptocurrency ETFs, providing investors with direct exposure to XRP without the complexities of direct digital asset ownership and storage.

Grayscale Advances XRP ETF Plans with Updated SEC Filing

Grayscale Investments has taken a decisive step toward launching the first U.S. spot XRP ETF, submitting Amendment No. 2 to its registration statement with the SEC. The November 3 filing outlines operational specifics for the Grayscale XRP Trust, including its passive investment structure and proposed NYSE Arca listing under ticker GXRP.

The trust will issue shares in 10,000-unit Baskets, tracking XRP's market price through Coinbase Custody's safeguarding and BNY Mellon's administrative oversight. This development comes as XRP solidifies its position as the fifth-largest cryptocurrency, boasting a $170 billion market capitalization.

XRP Faces Downward Pressure Amid Broader Crypto Market Sell-Off

The cryptocurrency market witnessed a sharp decline on November 4, 2025, with total capitalization dropping 4% to $3.45 trillion. Bitcoin fell below $104,000 while XRP led altcoin losses with a 6% slide to $2.25. Market dominance shifted decisively to BTC, crossing 60% as capital rotated out of altcoins.

Technical indicators suggest further downside for XRP after repeated rejections at the $2.68-$2.84 resistance zone. The token now tests critical support at $2.31, with analysts eyeing $2.04 and $1.72 as next potential floors. "$XRP is following the subwave mapping perfectly," noted trader CasiTrades, highlighting Coinbase's order book activity.

The $2.00 level emerges as a make-or-break threshold—holding above it could establish a base for recovery, while failure may trigger accelerated selling toward $1.70. Market sentiment remains fragile as Leveraged positions unwind across exchanges.