As a seasoned researcher with over two decades of experience in the dynamic world of financial markets, I find myself intrigued by Grayscale’s latest venture into the realm of cryptocurrencies – specifically, their new XRP Trust. Given my background, I have witnessed numerous transformations within this rapidly evolving sector, and I must admit, the potential real-world applications of XRP are captivating.
Grayscale Investments has unveiled a new addition to their collection of more than twenty cryptocurrency investment products, this one designed to mirror the performance of Ripple‘s original digital coin – XRP.
As a researcher, I am excited to announce that starting today, both qualified individuals and accredited institutions now have the opportunity to subscribe on a daily basis. This expansion offers greater flexibility in investment opportunities.
According to Grayscale, XRP‘s token serves as the driving force behind the XRP Ledger (XRPL), a decentralized peer-to-peer network designed for swiftly executing global financial transfers.
According to Grayscale’s Head of Product and Research, Rayhaneh Sharif-Askary, it is believed that the Grayscale XRP Trust offers investors a chance to invest in a protocol with a significant real-world application. By enabling rapid cross-border transactions, XRP holds the possibility of revolutionizing traditional financial systems.
Established more than a decade back, Grayscale has successfully transformed two of its products into stock exchange-traded funds, specifically the ones that previously managed private Trusts for Bitcoin and Ethereum. Notably, following their conversion in January and July, both have experienced significant outflows of capital.
As a crypto investor, I noticed an instant response in XRP‘s price upon hearing the latest news. In just an hour, the token skyrocketed by more than 6%, surging from roughly $0.54 to around $0.585. However, it later leveled off slightly at approximately $0.57.
You can review some of the most bullish price forecasts for XRP – here.
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2024-09-12 16:50