As a seasoned researcher with a decade-long career in financial markets, I’ve seen my fair share of industry developments and transformations. The recent announcement by Grayscale about their XRP Trust revival is indeed an intriguing turn of events.
Grayscale Investments, a firm specializing in cryptocurrency management, plans to introduce an XRP trust. This move might serve as a precursor for the establishment of a direct XRP exchange-traded fund (ETF) within the United States.
This closed-end investment option will provide accredited investors with an opportunity to invest directly in XRP (XRipple). Previously, Grayscale provided an XRP Trust, but they discontinued it in 2021 due to the U.S. Securities and Exchange Commission’s lawsuit against Ripple Labs in 2020, which claimed that the XRP token is a security under federal securities law.
Since Ripple prevailed in a court case that attracted wide attention from investors, the path toward regulation for its associated XRP token appears less complicated now.
According to Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary, as stated in a press release, they think the Grayscale XRP Trust offers investors an opportunity to invest in a protocol that has a significant real-world application. Moreover, it’s suggested that XRP could revolutionize traditional financial systems by enabling fast cross-border transactions within seconds.
The Trust operates similarly to other single-asset investment vehicles by Grayscale, and it exclusively holds the token associated with the XRP Ledger.
XRP spiked 8% on the news.
Read More
- UFO PREDICTION. UFO cryptocurrency
- Finding Resources in Palworld: Tips from the Community
- The Last Epoch Dilemma: Confronting the Gold Dupe Crisis
- AAVE PREDICTION. AAVE cryptocurrency
- BONE PREDICTION. BONE cryptocurrency
- DF PREDICTION. DF cryptocurrency
- Uncovering the Mystery of Red King Players in Clash Royale – What Reddit Users Have to Say
- Diablo Accomplishments: Epic Journey Through the Pit and Beyond
- OKB PREDICTION. OKB cryptocurrency
- EUR HKD PREDICTION
2024-09-12 16:23