Grayscale Investments, a leading cryptocurrency asset manager, has launched its new Grayscale XRP Trust as of September 12. The trust offers accredited investors a way to gain exposure to XRP, the native cryptocurrency of the XRP Ledger (XRPL).
Open for daily subscription, the trust is structured similarly to Grayscale’s other single-asset products, with its portfolio solely focused on XRP.
According to Fox Business, this trust could pave the way for an eventual XRP exchange-traded fund (ETF), which would require the approval of the Securities and Exchange Commission (SEC) and be aimed at retail investors.
Reporter Eleanor Terrett highlighted the regulatory difference between a trust, which targets accredited investors, and an ETF, which faces stricter oversight.
Grayscale outlined a four-phase life cycle for the XRP trust, hinting at a future transition to an ETF. The company noted that as the product evolves, it will offer greater transparency and broader investor access.
Rayhaneh Sharif-Askary, Grayscale’s head of product and research, emphasized XRP’s potential to revolutionize financial systems. She highlighted its ability to facilitate fast, cross-border payments, modernize traditional finance, and support decentralized finance and tokenization via the XRP Ledger.
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