Grayscale Investments, a major cryptocurrency investment firm, is debuting a new crypto trust linked to the XRP (XRP) cryptocurrency.

Grayscale on Sept. 12 officially announced the creation and public launch of Grayscale XRP Trust, which enables investors with the opportunity to gain exposure to XRP.

Source: Grayscale

Grayscale XRP Trust is immediately open for daily subscription by eligible individual and institutional accredited investors. It functions Grayscale’s other single-asset investment trusts, and is solely invested in the token underpinning the XRP Ledger (XRPL), the firm noted.

How a crypto trust is different from a crypto ETF

According to a report by Fox Business, the launch of Grayscale XRP Trust could potentially pave the way for an XRP exchange-traded fund, which is a different product.

“An ETF must be approved by the Securities and Exchange Commission since it is marketed directly to retail investors, while a trust’s structure and sales pitch to so-called accredited investors gets a lighter regulatory touch,” Fox Business’ Eleanor Terrett reported.

Source: Grayscale

The report also mentioned that Grayscale has published an intended four-phase product life cycle for the XRP trust, which potentially implies the possibility of an XRP ETF in the future.

This is a developing story, and further information will be added as it becomes available.