Grayscale Sets Stage for XRP ETF with Launch of U.S. XRP Trust
The post Grayscale Sets Stage for XRP ETF with Launch of U.S. XRP Trust appeared on BitcoinEthereumNews.com.
The recent report that Grayscale Investments has launched an XRP Trust has ignited the hope that XRP ETF could be in the pipeline. Ripple’s boss, Brad Garlinghouse, has stated on multiple occasions that his company would welcome XRP ETF from any issuer. Crypto asset manager Grayscale Investments has announced the launch of US XRP Trust, preparing the grounds for a possible spot XRP Exchange Traded Fund (ETF). According to the report, this groundbreaking move would enable accredited investors to gain direct exposure to the digital asset without much stress. Commenting on this, Rayhaneh Sharif-Askary, Grayscale’s head of product and research disclosed that the XRP Trust would help investors to diversify their exposure beyond the first top two cryptos. As crypto investors diversify beyond Bitcoin and Ethereum, we believe in providing exposure to protocols that solve real-world problems. XRP can reduce frictions in international payments, enabling more efficiency in an evolving global economy. According to experts, a Trust and an ETF are two different investment products. While the ETF must undergo a stringent process for final approval by the US Securities and Exchange Commission (SEC), the structure and sale pitches of the Trust to accredited investors are subjected to lighter regulatory requirements. Only this year, two renowned Trusts of Grayscale – Bitcoin and Ethereum have evolved into ETFs. This has created the impression that the asset manager may soon subject XRP to a similar transformation process as it publishes an intended four-phase product life cycle for its XRP Trust. Is XRP ETF Inevitable? Grayscale’s Journey to converting its Bitcoin Trust into an ETF was a perilous one as the SEC rejected its application on multiple occasions. However, the asset manager took a bold decision to file an appeal with its victory preparing the grounds for the likes of BlackRock, Fidelity and…
Filed under: News - @ September 15, 2024 12:09 am