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<p dir="ltr">Top investment asset management firm&nbsp;<a href="https://www.globenewswire.com/en/news-release/2024/09/12/2945244/0/en/Grayscale-Investments-Launches-Grayscale-XRP-Trust.html" rel="noopener noreferrer nofollow">Grayscale has launched</a> an XRP trust. This is the first such investment offering in the United States and could eventually lead to a spot XRP exchange-traded fund (ETF) in the region.</p>
<h2 id="xrp-sees-more-adoption-post-sec-lawsuit">XRP sees more adoption post-SEC lawsuit&nbsp;</h2>
<p dir="ltr">The Grayscale XRP Trust is designed as a closed-end fund offering accredited investors direct exposure to the Ripple-associated crypto asset. Like other Grayscale single-asset investment trusts, the XRP trust will be solely invested in the coin. XRP is the primary asset underpinning&nbsp;<a href="https://u.today/major-xrp-ledger-xrpl-amendment-about-to-go-live" rel="noopener noreferrer nofollow">XRP Ledger</a>, a distributed, peer-to-peer network created to facilitate cross-border financial transactions.</p>
<p dir="ltr">The company attempted to provide this offering in the U.S. a few years ago. Three years ago, however, the fund was dissolved after the Securities and Exchange Commission (SEC) went after Ripple Labs over XRP's security status.</p>
<p dir="ltr">In the last year, the firm has celebrated victory in the case, especially after Judge Analisa Torres ruled in July 2023 that XRP is not a security. With Ripple’s victory and some clarity on XRP's categorization, the altcoin has seen some positive adoption moves. This includes its acceptance and adoption by many crypto projects, including Grayscale.</p>
<h2 id="spot-xrp-etf-underway">Spot XRP ETF underway</h2>
<p dir="ltr">The spot Bitcoin and Ethereum ETF issuer is certain that this new product will thrive. Speaking of the Grayscale XRP Trust, Grayscale’s Head of Product and Research, Rayhaneh Sharif-Askar, highlighted that "Grayscale XRP Trust exposes investors to a protocol with an important real-world use case."</p>
<p dir="ltr">He also noted that "by facilitating cross-border payments that take just seconds to complete, XRP can potentially transform the legacy financial infrastructure."&nbsp;</p>
<p dir="ltr">The Grayscale XRP Trust may be the route for a potential&nbsp;<a href="https://u.today/sbi-and-franklin-templetons-joint-venture-fuels-xrp-etf-talk" rel="noopener noreferrer nofollow">spot XRP ETF</a> to creep onto the U.S. market.&nbsp;</p>
<p dir="ltr">As part of the recent product boost for XRP, Chicago cryptocurrency derivatives exchange Bitnomial announced its intention to&nbsp;<a href="https://u.today/xrp-etf-getting-closer-with-this-new-major-development" rel="noopener noreferrer nofollow">launch USD cash-settled futures contracts for the XRP</a> cryptocurrency under the "XUS" ticker.</p>

Grayscale Launches First XRP Trust, ETF Soon?

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