Grayscale Launches XRP Trust, Sparking Hopes for Spot XRP ETF
TL;DR
- Grayscale has launched an XRP Trust in the U.S., providing accredited investors with direct exposure to the $XRP token, following Ripple's legal win against the SEC.
- The announcement led to an 8% surge in $XRP's market value, reflecting strong investor interest in the token.
Grayscale's recent launch of an XRP Trust marks a significant development for accredited investors seeking direct access to the $XRP token. This closed-end fund comes on the heels of Ripple's favorable court ruling against the SEC, which has alleviated some regulatory pressures surrounding $XRP. As a result, there is renewed enthusiasm and investment potential for the token.
Rayhaneh Sharif-Askary, Grayscaleâs Head of Product & Research, expressed confidence in the trust, emphasizing $XRP's role in facilitating rapid cross-border payments. This capability positions $XRP as a transformative asset within traditional financial systems, further driving interest from investors.
The Grayscale XRP Trust operates similarly to the firm's other single-asset investment trusts, focusing solely on the token that supports the XRP Ledger. Following the announcement, $XRP experienced a notable price spike, indicating a positive market reception and strong investor engagement.
What are your thoughts on the future of $XRP following this development?
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