Grayscale to Launch First-Ever U.S.-Based XRP Fund
CryptoNewsTerminal Staff12 Sep, 2024
Grayscale to Launch First-Ever U.S.-Based XRP Fund
Crypto asset management firm Grayscale is set to launch the first-ever U.S.-based XRP fund. The exclusive report from Fox Business says that the fund is a private placement aimed at providing accredited investors with direct exposure to XRP. This development is significant as it marks a major step forward for XRP in the U.S. market. The launch of the XRP fund could pave the way for the creation of an XRP exchange-traded fund (ETF) in the future. If approved, a XRP ETF would make it significantly easier for investors to gain exposure to the cryptocurrency. Grayscale's entry into the XRP market is a testament to the growing institutional interest in XRP. The fund will provide investors with a secure and regulated way to invest in XRP. This could lead to increased adoption of XRP by institutional investors and further legitimize the cryptocurrency.
