XRP Spikes 8% as Grayscale Launches XRP Trust in the U.S.

The closed-end fund will offer investors exposure to XRP tokens.

Crypto fund manager Grayscale is launching an XRP trust that could pave the way for a spot XRP exchange-traded fund (ETF) in the U.S. The closed-end fund will offer accredited investors direct exposure to XRP (XRP). Grayscale previously offered an XRP Trust but dissolved it in 2021 following the U.S. Securities and Exchange Commission’s 2020 lawsuit against Ripple Labs that alleged the XRP token is a security under federal securities law.

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Grayscale is launching an XRP Trust in the U.S. The closed-end fund will offer investors exposure to XRP tokens.

The fund could pave the way for a spot XRP ETF in the U.S. Grayscale previously dissolved an XRP Trust in 2021. XRP spiked 8% on the news.

Crypto fund manager Grayscale is launching an XRP trust that could pave the way for a spot XRP exchange-traded fund (ETF) in the U.S. The closed-end fund will offer accredited investors direct exposure to XRP (XRP).

Grayscale previously offered an XRP Trust but dissolved it in 2021 following the U.S. Securities and Exchange Commission’s 2020 lawsuit against Ripple Labs that alleged the XRP token is a security under federal securities law.

Accredited investors can now directly access the XRP Ledger protocol with Grayscale's XRP Trust. The Trust is solely invested in the token underpinning the XRP Ledger, which enables cross-border payments that take just seconds to complete. This technology has the potential to transform the legacy financial infrastructure.

The Trust functions like Grayscale’s other single-asset investment trusts, and is solely invested in the token underpinning the XRP Ledger. XRP spiked 8% on the news.

Grayscale, a leading crypto asset manager, is launching a new closed-end fund that will offer investors exposure to XRP (XRP) tokens. The fund, known as the Grayscale XRP Trust, is designed to pave the way for a spot XRP exchange-traded fund (ETF) in the United States.

Accredited investors will be able to directly access the XRP Ledger protocol through the Grayscale XRP Trust. The Trust is solely invested in the XRP token, which serves as the native asset of the XRP Ledger and plays a crucial role in facilitating cross-border payments. With XRP transactions being processed within seconds, the technology has the potential to revolutionize the existing financial infrastructure.

The Grayscale XRP Trust operates similarly to the company's other single-asset investment trusts, with its holdings limited to the protocol token. XRP experienced an 8% price increase in response to this news.

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