Asset management firm Grayscale Investments has officially launched the Grayscale XRP Trust, a move that allows investors to increase their exposure to XRP, the cryptocurrency issued by Ripple.
In a releaseGrayscale indicated that the fund is now available to eligible individual and institutional accredited investors. Also, that It works in a similar way to other investment funds. Grayscale’s single-asset portfolio.
In this case, it is based on the exclusive investment in the token that underpins the XRP Ledger (XRP). This launch not only marks Grayscale’s confidence in XRP, but also reflects a growing institutional acceptance of cryptocurrencies beyond bitcoin (BTC) and ether (ETH).
Rayhaneh Sharif-Askary, Head of Product and Research at Grayscale, highlighted the importance of this step: “We believe that Grayscale XRP Trust offers investors exposure to a protocol with a significant real-world use case. By facilitating cross-border payments that take just seconds to complete, XRP has the potential to transform legacy financial infrastructure.”
This launch comes at a crucial time, just after the legal dispute between Ripple and the US Securities and Exchange Commission (SEC) was resolved, which has been a significant catalyst for the XRP market.
Following the announcement, the price of XRP saw an 8% increase, standing at $0.57, according to the data from CoinMarketCap. This move reflects the market’s positive reception towards the news.
Furthermore, as CriptoNoticias has reported, according to recent technical analysis, XRP is in a favorable position for a significant increase in the coming days, which has generated considerable interest and speculation in the cryptocurrency market.
This development is seen as a step towards the normalization and wider adoption of digital assets in the traditional financial space, potentially laying the groundwork for future cryptocurrency-based financial products by Grayscale and other investment firms.
This article was created using artificial intelligence and edited by a human on the editorial staff.
