Seeds of Wisdom RV and Economic Updates Friday Afternoon 1-31-25
Good Afternoon Dinar Recaps,
Just In The Seventh Asset Manager Seeking To Launch An XRP ETF, Amidst A Surge In ETF Applications.
In a recent development, asset manager Grayscale Investment has filed a 19b-4 form with the NYSE to launch an XRP ETF. The company aims to convert its XRP Trust into an exchange-traded fund (ETF), which will be listed and traded on the NYSE.
“Grayscale Investments has filed with the New York Stock Exchange (NYSE) to offer a spot XRP exchange-traded fund (ETF). This filing aims to convert Grayscale’s existing XRP Trust into an ETF, allowing shares to be listed and traded on the NYSE,” the filing read.
This comes shortly after Grayscale filed for Litecoin and Solana ETFs. Additionally, the company recently introduced its Bitcoin Miners ETF, under the ticker MNRS, which provides exposure to publicly traded Bitcoin mining companies.
It’s a Growing Trend!
By filing for an XRP ETF, Grayscale joins asset managers like Bitwise and WisdomTree in the race to issue an exchange-traded fund.
This filing makes Grayscale the seventh asset manager to submit a proposal for an XRP ETF, as part of a wave of ETF applications since Donald Trump return to office and Gary Gensler’s exit from the SEC.
XRP Trust’s Strong Performance
Grayscale’s XRP Trust has been performing well this year. In January, the trust saw a 300% increase, according to Nasdaq, driven by speculation that an XRP ETF might launch within the next 12 months.
The momentum behind crypto ETFs is undeniable, and Grayscale has proved it once again.
@ Newshounds News™
Source: CoinPedia
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PURPOSE INVESTMENTS FILES PRELIMINARY PROSPECTUS FOR THE WORLD'S FIRST RIPPLE XRP EFT
Purpose Investments Inc. ("Purpose"), the leader behind the world’s first Bitcoin ETF and Ether ETFs, is pleased to announce that it is further solidifying its preeminence in the digital asset space with the filing of a preliminary prospectus with Canadian securities regulators for the proposed launch of the Purpose Ripple ETF.
The Purpose Ripple ETF seeks to invest substantially all of its assets in long-term holdings of Ripple (“XRP”) and to provide holders of ETF Units with the opportunity for long-term capital appreciation.
"At Purpose, we remain steadfast in our commitment to innovation and to bridging the gap between traditional and decentralized finance," said Som Seif, founder and CEO of Purpose Investments.
"As XRP sees increasing adoption and institutional interest, we believe an ETF can offer investors a transparent and familiar way to access it within a regulated framework."
"This launch represents another important step in our efforts to be the leading and most trusted partner for investors in harnessing the benefits of crypto and digital assets by enabling them to understand, access, and confidently invest these assets," added Vlad Tasevski, Chief Innovation Officer. "We remain committed to providing exposure to transformative digital assets and blockchain technologies through regulated investment vehicles."
About Purpose Investments Inc.
Purpose Investments is an asset management company with more than $23 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products.
Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.
@ Newshounds News™
Source: Purpose Investment
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BRICS: CHINA OIL OUTPUT HITS 400M TONS AMID RECORD GROWTH
For much of last year, the global south has sought to increase its standing in the oil sector. Indeed, that pursuit took another step forward this week, as the BRICS leading economy, China, has seen its oil output reach 400 million tons this year as its record growth continues.
The development continues what has been a tremendous month for the country’s economic standing. At the start of the year, the country announced that its trade surplus had reached a monumental $5 trillion.
Altogether, it positions the nation well as it enters a year in which geopolitical tension with the US and the West is nearing a boiling point.
BRICS Solidify Oil Presence as China Output Continues Upward Trajectory
There is no understating of just how important 2025 is proving to be for the BRICS economic alliance. The collective has been engaged in continued de-dollarization efforts that have now drawn the ire of new US President Donald Trump.
Now, his sights are set on limiting the impact of the global south’s efforts as experts note the US dollar’s days of dominance may be coming to an end.
Throughout the last month, the bloc has sought to continue establishing itself as a key alternative to the West. Now, those efforts may have taken a significant step forward. Indeed, BRICS nation China has seen its oil output hit 400 million tons as record growth continues, according to a recent report.
The country has also noted that its oil output has grown by more than 10 million tons for eight consecutive years. Moreover, last year, oil production surpassed 213 million tons. The tremendous growth is put into perspective when considering it jumped from just 24 million tons just six years ago.
That could be a key aspect of the bloc as it continues to grow. With Saudi Arabia considering its application to join the alliance, I could soon be a leader in the vital sector.
That could throw a significant wrench into the ongoing geopolitical tensions with the US. Specifically, it would see the pursuit of the global south grow in merit and potential allure to global powers.
@ Newshounds News™
Source: Watcher Guru
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