Grayscale's XRP Trust: Paving the Way for Cross-Border Innovation and a Price Surge.
Grayscale, a leading crypto fund management company, has launched its XRP Trust, signaling a potential path toward an XRP spot exchange-traded fund (ETF) in the US. This closed-end fund provides accredited investors with direct exposure to XRP, a move that could revitalize interest in the token.
Grayscale previously dissolved its XRP Trust in 2021 due to an SEC lawsuit that classified XRP as a security. However, Ripple's recent legal victory against the SEC has cleared regulatory obstacles, setting the stage for renewed opportunities.
Raihaneh Sharif-Askari, Grayscale’s head of product and research, highlighted the transformative potential of XRP in cross-border payments, emphasizing its ability to significantly improve the speed of transactions. The new trust mirrors Grayscale's other single-asset funds by focusing exclusively on XRP Ledger’s underlying token.
Following this announcement, XRP saw a notable 8% price surge, reflecting increased investor confidence in the protocol. $XRP
