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
- ACT PREDICTION. ACT cryptocurrency
- W PREDICTION. W cryptocurrency
- Hades Tier List: Fans Weigh In on the Best Characters and Their Unconventional Love Lives
- Smash or Pass: Analyzing the Hades Character Tier List Fun
- Sim Racing Setup Showcase: Community Reactions and Insights
- Understanding Movement Speed in Valorant: Knife vs. Abilities
- PENDLE PREDICTION. PENDLE cryptocurrency
- Why Destiny 2 Players Find the Pale Heart Lost Sectors Unenjoyable: A Deep Dive
- How to Handle Smurfs in Valorant: A Guide from the Community
- Why Final Fantasy Fans Crave the Return of Overworlds: A Dive into Nostalgia
2024-09-12 16:23