Grayscale Investments, a major cryptocurrency investment firm, is debuting a new crypto trust linked to the XRP ( XRP ) cryptocurrency.
Grayscale on Sept. 12 officially announced the creation and public launch of Grayscale XRP Trust, which enables investors with the opportunity to gain exposure to XRP.
Source: Grayscale
Grayscale XRP Trust is immediately open for daily subscription by eligible individual and institutional accredited investors. It functions Grayscale’s other single-asset investment trusts, and is solely invested in the token underpinning the XRP Ledger (XRPL), the firm noted.
How a crypto trust is different from a crypto ETF
According to a report by Fox Business, the launch of Grayscale XRP Trust could potentially pave the way for an XRP exchange-traded fund, which is a different product.
“An ETF must be approved by the Securities and Exchange Commission since it is marketed directly to retail investors, while a trust’s structure and sales pitch to so-called accredited investors gets a lighter regulatory touch,” Fox Business’ Eleanor Terrett reported .
Source: Grayscale
The report also mentioned that Grayscale has published an intended four-phase product life cycle for the XRP trust, which potentially implies the possibility of an XRP ETF in the future.
This is a developing story, and further information will be added as it becomes available.
