Ripple
September 12, 2024
Ripple Unicorn News - September 12, 2024
Grayscale has introduced the first XRP trust in the United States, allowing institutional investors to gain exposure to Ripple's XRP. This move has led to an 8% surge in XRP's price and could potentially pave the way for an XRP ETF in the future.
() Introduction
() Grayscale Launches First XRP Trust in the United States
Grayscale, a leading cryptocurrency asset manager, has announced the launch of the first XRP trust in the United States. This new trust provides institutional investors with the opportunity to gain exposure to XRP, one of the top 10 cryptocurrencies. The announcement led to an 8% surge in the price of XRP, bringing it to $0.57. Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, noted that the XRP trust enables rapid cross-border payments, which could revolutionize the traditional financial infrastructure by making transactions faster and more efficient. This development also opens the possibility for an XRP ETF in the future, subject to regulatory approvals.
