Grayscale XRP Trust is one of the first securities solely invested in and deriving value from the price of XRP that enables investors to gain exposure to XRP in the form of a security while avoiding the challenges of buying, storing, and safekeeping XRP directly. Shares (based on XRP per Share as indicated below) are designed to track the XRP market price, less fees and expenses. XRP is a digital asset that is created and transmitted through the operations of the peer-to-peer Ripple Network, a decentralized network of computers that operates on cryptographic protocols. The Ripple Network allows people to exchange tokens of value, called XRP, which are recorded on a public transaction ledger known as a blockchain.
