Grayscale Launches XRP Fund
Grayscale launched an $XRP closed-end fund, causing $XRP’s price to jump as investors expect broader institutional exposure.
Key points:
- Grayscale launches $XRP fund: The fund offers accredited investors exposure to $XRP.
- Potential $XRP ETF: This could pave the way for a future exchange-traded fund (ETF).
- Ripple’s legal victory: The fund follows Ripple’s recent win over the SEC.
- Cross-border payments focus: $XRP’s utility in cross-border payments boosts its appeal.
Grayscale’s XRP Fund Fuels Institutional Adoption Hopes:
Grayscale Investments, a leading crypto investment firm, introduced a new closed-end fund dedicated to $XRP.
This fund allows accredited investors to gain exposure to the asset without having to buy the token directly.
Importantly, this launch follows Ripple’s significant legal win against the U.S. Securities and Exchange Commission (SEC). Ripple’s victory reduced regulatory risks, clearing the path for broader adoption.
Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, emphasized $XRP’s potential.
She noted its ability to transform financial systems, especially for cross-border payments. $XRP transactions take seconds, which makes them a faster and cheaper alternative to traditional banking methods.
Read more: XRP Surges 17% After Ripple Is Fined $125 Million in SEC Case
The fund’s introduction has also fueled speculation about a future $XRP ETF, signaling greater institutional interest in the cryptocurrency.
