Grayscale Investments has introduced a new trust that is linked to the cryptocurrency XRP.
On September 12, Grayscale officially announced the launch of the Grayscale XRP Trust, which allows investors to have exposure to XRP.
The trust is open for daily subscriptions for accredited individual and institutional investors, and operates similarly to other single-asset investment trusts offered by Grayscale. It solely holds investments in the XRP token, which is the underlying asset of the XRP Ledger (XRPL).
According to a report from Fox Business, the introduction of Grayscale XRP Trust may potentially pave the way for an XRP exchange-traded fund (ETF).
This is a different type of product that requires approval from the Securities and Exchange Commission (SEC) as it is marketed directly to retail investors.
