Cryptocurrency asset management firm Grayscale announced the launch of the Grayscale XRP Trust on Thursday—a closed-end fund enabling investors to gain exposure to XRP tokens.
"We believe the Grayscale XRP Trust provides access to a protocol with significant real-world utility," said Rayhaneh Sharif-Askary, Grayscale’s Head of Product and Research, in a press release. "By facilitating cross-border payments in seconds, XRP has the potential to transform traditional financial infrastructure."
The new fund is now open for daily subscriptions by eligible individual and institutional accredited investors. Following the announcement, XRP’s price spiked over 8% before retracing. At press time, XRP traded at $0.56.
Background: Grayscale’s Previous XRP Fund
Grayscale previously managed an XRP fund, which was discontinued in 2021 after the U.S. SEC sued Ripple, alleging XRP qualified as a security under U.S. law.
Expansion of Grayscale’s Offerings
Grayscale has launched multiple trust funds recently, including:
- Grayscale Avalanche Trust (AVAX)
- Grayscale MakerDAO Trust (MKR)
- Grayscale Sui Trust (SUI) & Grayscale Bittensor Trust (TAO)
The firm also secured approval this year to convert its Bitcoin and Ethereum trusts into spot ETFs.
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FAQ
1. What is the Grayscale XRP Trust?
A closed-end fund offering accredited investors exposure to XRP without direct ownership of the token.
2. Why did XRP’s price surge after the announcement?
Market optimism around institutional adoption and renewed investor confidence in XRP’s regulatory clarity.
3. How does this differ from Grayscale’s previous XRP fund?
The new trust launches amid evolving regulatory landscapes and clearer guidelines for crypto securities.
4. Can retail investors participate in the Grayscale XRP Trust?
No—only accredited investors meet the eligibility criteria.
5. What other tokens does Grayscale offer as trusts?
AVAX, MKR, SUI, TAO, Bitcoin, and Ethereum.