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Grayscale launches XRP Trust

Grayscale, one of the world's largest providers of crypto investment products, announced the launch of a new trust that gives accredited investors direct access to XRP for the first time.

By Finst News
• 2 min read
Grayscale launches XRP Trust

Grayscale, one of the world's largest providers of crypto investment products, announced the launch of a new trust that gives accredited investors direct access to XRP for the first time. As a result, the price of XRP rose nearly 9 percent. Over the past seven days, the coin is up almost 6 percent.

“We believe the Grayscale XRP Trust offers investors access to a blockchain solution that could play a crucial role in optimizing existing financial systems by enabling cross-border payments,” said Rayhaneh Sharif-Askary, Head of Product and Research at Grayscale.

Institutional investors can add certain cryptocurrencies to their portfolios through these regulated investment products. The trust is not traded on exchanges like conventional stocks or ETFs (exchange-traded funds), but over the counter (OTC).

A trust and an ETF are two different investment products. An ETF must be approved by the U.S. Securities and Exchange Commission (SEC) because it is sold directly to retail investors. A trust has looser requirements since only accredited investors have access to these products. Still, a trust can become an ETF, as the cases of Bitcoin and Ether have shown.

Through the legal disputes with the SEC, the future of Ripple and its XRP token remains unclear.

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