Home Blockchaine Grayscale Reintroduces XRP Trust – XRP Soars 8% – Blockchain News, Opinion, TV and Jobs

Grayscale Reintroduces XRP Trust – XRP Soars 8% – Blockchain News, Opinion, TV and Jobs

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In a significant boost for XRP enthusiasts and investors, Grayscale Investments has unveiled its new XRP Trust in the U.S., sparking an impressive 8% surge in the token’s value. This closed-end fund is designed to provide accredited investors with direct exposure to XRP (XRP), potentially signaling the path toward a U.S. spot XRP exchange-traded fund (ETF).

Grayscale’s reentry into the XRP space marks a notable turnaround from 2021, when it dissolved its previous XRP Trust amid the SEC’s legal battle against Ripple Labs. That lawsuit questioned whether XRP constituted a security under federal laws, casting a shadow over the token’s investment landscape.

XRP, launched in 2012 by Ripple Labs, was initially designed to facilitate fast and cost-effective cross-border transactions. Its innovative consensus algorithm and low transaction fees quickly attracted institutional interest, positioning XRP as a key player in the digital currency space. However, the SEC’s legal challenges in 2020 created substantial uncertainty and regulatory pressure.

However, Ripple Labs’ recent legal triumph against the SEC has cleared the way for renewed interest in XRP. “We are thrilled to reintroduce the Grayscale XRP Trust, which offers a gateway to a token with substantial real-world applications,” commented Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research. “XRP’s capability to enable cross-border transactions in mere seconds has the potential to revolutionize traditional financial systems.”

The new trust operates similarly to Grayscale’s other single-asset investment vehicles, focusing exclusively on XRP, the token that powers the XRP Ledger. This move could pave the way for broader institutional adoption and further validation of XRP as a key player in the evolving cryptocurrency ecosystem.



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