Grayscale Launches $XRP Fund, Sparking Institutional Interest
Grayscale Investments, a prominent crypto investment firm, has introduced a new closed-end fund dedicated to $XRP, allowing accredited investors to gain exposure to the cryptocurrency without directly purchasing the token. This launch comes on the heels of Rippleâs major legal victory over the U.S. Securities and Exchange Commission (SEC), reducing regulatory risks and opening doors for wider adoption. The fund is seen as a step toward broader institutional interest, with some speculating that it could lead to a future $XRP exchange-traded fund (ETF).
Grayscale's Head of Product & Research, Rayhaneh Sharif-Askary, highlighted $XRP's potential, particularly its utility in transforming cross-border payments. With transactions taking just seconds, $XRP offers a faster and cheaper alternative to traditional banking methods, boosting its appeal. This new fund signals growing confidence in $XRP's role within the financial ecosystem, sparking hopes of increased institutional adoption.
