Grayscale Investments has introduced the Grayscale XRP Trust, providing accredited investors with exposure to XRP, the token utilized on the XRP Ledger.

The Trust is available for daily subscription to qualified investors and functions akin to Grayscale’s other single-asset investment trusts. While XRP’s regulatory status remains uncertain due to the ongoing legal battle between the SEC and Ripple, Grayscale maintains a positive outlook on its long-term value.

The XRP Ledger is a blockchain designed to enable fast, cross-border transactions. According to Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, the Trust aims to offer investors access to a digital asset with practical payment utility.

This development is noteworthy for the U.S. financial markets as it allows accredited investors to access XRP, a significant player in the cross-border payments industry. By introducing an investment vehicle for XRP, Grayscale is fostering broader institutional interest, increased capital inflows, and potentially paving the way for a future XRP-based ETF.

This launch could lead to other crypto investment products related to XRP, such as a spot XRP ETF, further integrating digital assets into traditional financial markets.

$XRP ETF?

Grayscale’s XRP Trust follows the company’s success in converting its Bitcoin and Ethereum trusts into ETFs after prevailing in a lawsuit against the SEC. Although an XRP ETF isn’t currently available, Grayscale’s four-phase product plan leaves the door open for future regulatory approval.

XRP is currently trading at $0.57, significantly lower than its 2018 all-time high of $3.84. However, since this news was released, the price of XRP has surged by over 8% in the last 24 hours.

Ripple CEO Brad Garlinghouse has previously suggested that multiple token-based ETFs are inevitable, reinforcing speculation about future crypto ETFs.

A spot crypto ETF tracks the price of a specific cryptocurrency and invests portfolio funds into that crypto. These funds are traded on public exchanges and generally track a particular crypto. Like similar funds, crypto ETFs are listed on regular stock exchanges, and investors can hold them in their standard brokerage accounts.

For more news and updates, explore Global Crypto News.

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