Grayscale Launches First XRP Trust, ETF Soon
Top investment asset management firm Grayscale has launched an XRP trust. This is the first such investment offering in the United States and could eventually lead to a spot XRP exchange-traded fund (ETF) in the region
Top investment asset management firm Grayscale has launched an XRP trust. This is the first such investment offering in the United States and could eventually lead to a spot XRP exchange-traded fund (ETF) in the region. XRP sees more adoption post-SEC lawsuit The Grayscale XRP Trust is designed as a closed-end fund offering accredited investors direct exposure to the Ripple-associated crypto asset. Like other Grayscale single-asset investment trusts, the XRP trust will be solely invested in the coin. XRP is the primary asset underpinning XRP Ledger, a distributed, peer-to-peer network created to facilitate cross-border financial transactions.
The company attempted to provide this offering in the U.S. a few years ago. Three years ago, however, the fund was dissolved after the Securities and Exchange Commission (SEC) went after Ripple Labs over XRP's security status. In the last year, the firm has celebrated victory in the case, especially after Judge Analisa Torres ruled in July 2023 that XRP is not a security. With Ripple’s victory and some clarity on XRP's categorization, the altcoin has seen some positive adoption moves. This includes its acceptance and adoption by many crypto projects, including Grayscale.
