Grayscale Investments has created a new trust for XRP, giving accredited investors access to the cryptocurrency known for its ability to facilitate cross-border transactions. The Grayscale XRP Trust operates like other single-asset cryptocurrency investment vehicles, holding only XRP. Grayscale’s head of product highlighted XRP’s potential to transform financial infrastructure.

Grayscale Launches XRP Trust for Accredited Investors

Cryptocurrency asset management firm Grayscale Investments announced the launch of the Grayscale XRP Trust on Thursday. The new trust provides investors with access to XRP, a cryptocurrency used to facilitate cross-border financial transactions via the XRP Ledger. Grayscale said on its social media platform X:

We are proud to announce the creation of a new single asset cryptocurrency investment fund, the Grayscale XRP Trust, which will be available through a private offering to qualified accredited investors.

The Grayscale XRP Trust operates like other single-asset investment funds offered by the company, holding only XRP, the native token of the XRP Ledger, the company explained.

The trust is now available for subscription to accredited individual and institutional investors, who can access the fund on a daily basis. Grayscale emphasizes that the trust offers an opportunity to invest in a protocol designed for real-world financial applications, specifically cross-border payments.

Grayscale’s head of product and research, Rayhaneh Sharif-Askary, highlighted the potential impact of XRP, stating: “XRP has the potential to transform traditional financial infrastructure.” Sharif-Askary said:

We believe the Grayscale XRP Trust gives investors access to a protocol that has important real-world applications.

The crypto asset manager aims to list shares of its new products on the secondary market, although the company cautions that such approval is not guaranteed.

What do you think about Grayscale’s new XRP Trust and its potential impact on cross-border financial transactions? Let us know in the comments below.
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