PANews reported on January 31 that according to Decrypt, the New York Stock Exchange Arca has submitted a 19b-4 filing seeking to convert Grayscale's XRP Trust into a spot ETF, which has an asset management scale of approximately US$16.1 million. It is reported that the 19b-4 filing by the issuer exchange is the second part of the two-step process of applying for a spot crypto ETF to the U.S. Securities and Exchange Commission. The exchange submits a 19b-4 filing to the SEC to apply for amendments to existing rules to allow the ETF to trade. This is a key part of the ETF approval process. Once approved by the SEC, the document will be published in the Federal Register to initiate the approval process.