Grayscale, a leading cryptocurrency fund manager, has launched its XRP Trust, offering accredited investors direct exposure to the XRP token that powers the XRP Ledger. This move has sparked renewed interest in XRP, with the token’s value rising by 8% following the announcement.
The launch comes after Grayscale dissolved its previous XRP Trust in 2021, amid the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple Labs, which classified XRP as a security.
Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary, highlighted XRP’s potential to revolutionize cross-border payments, stating, “Grayscale XRP Trust provides exposure to a protocol with real-world utility, enabling near-instant international transactions.”
The trust operates similarly to Grayscale’s other single-asset investment vehicles, allowing accredited individual and institutional investors to invest in XRP through a more streamlined process compared to traditional ETFs.
This development has reignited speculation about the possibility of a spot XRP exchange-traded fund (ETF) in the U.S., following Grayscale’s successful conversion of its Bitcoin and Ethereum trusts into ETFs earlier this year. The company has outlined a phased approach for the XRP Trust, potentially positioning it for an ETF conversion once regulatory conditions are favorable.
Despite the ongoing legal uncertainty due to the SEC’s lawsuit against Ripple, Grayscale remains confident in XRP’s future. A recent court ruling sided partially with Ripple, asserting that XRP sales to retail investors are not securities, although the SEC is expected to appeal.
Grayscale sees this launch as a step toward XRP’s broader adoption and its key role in improving global payment systems.
