Grayscale Trust Fund Sparks Ripple ETF Talk; XRP Price Up 5%

Grayscale’s Ripple Trust Sparks ETF Speculation

Grayscale has launched the United States’ first Ripple Trust Fund. The product would provide accredited investors with direct exposure to XRP, the digital token that powers the XRP Ledger. The trust offers a new opportunity for market investors to invest in XRP.

Grayscale’s Ripple Trust Sparks ETF Speculation

Grayscale has continued to expand its crypto market presence. Grayscale’s product adds to its growing list of crypto investment options. Following the news, Ripple’s price surged by 5.2%, reaching a multi-week high of $0.56.

The launch created speculations of an XRP ETF, which could help boost the token’s prices. Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, underscored the Trust’s significance by emphasizing Ripple’s real-world usefulness. She said:

“By facilitating cross-border payments that take just seconds to complete, XRP has the potential to transform the legacy financial infrastructure.”

The Trust is open to daily subscriptions from eligible individual and accredited institutional investors. This launch follows Grayscale’s recent rollout of single-asset trusts for MakerDAO, Bittensor, SUI, and other projects over the last two months. 

The entity has previously converted its Bitcoin and Ethereum Trusts into ETFs. As such, Ripple enthusiasts argue that the asset manager might be planning to do the same with XRP. 

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Florence Muchai
Written by Florence Muchai

Florence Muchai is a crypto journalist at CryptoNewsZ with four years of experience covering Crypto, Blockchain, Web3, NFT, and AI. She has written for MSN and CryptoPolitan, bringing a wealth of knowledge to the industry. Florence holds a Bachelor's Degree in Disaster Management and International Diplomacy and a Master's Degree in Clinical Psychology. She is a digital nomad and explores the intersections of decentralized and traditional finance, offering insightful analysis on wealth creation, financial literacy, and the evolving digital economy. She is passionate about empowering readers with knowledge and delves into emerging trends, regulatory developments, and the impact of blockchain on global finance.