Key takeaways
- Grayscale is preparing to launch an XRP Trust ETF, allowing broader investor access to XRP through a regulated traditional product.
- The Grayscale XRP Trust currently operates as a private placement for qualified investors, tracking the price of XRP via a reference rate.
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Grayscale has hinted that it will soon launch its XRP trust ETF (GXRP), joining Canary Capital as one of the first US fund managers to expand investor access to the asset through a regulated investment vehicle.
Grayscale XRP Trust is a private placement investment vehicle that provides qualified investors with exposure to XRP through a structured product, following a benchmark rate for the cryptocurrency. Recent filings indicate progress toward converting this trust into a cash exchange-traded fund, with modifications submitted to regulators to facilitate a possible public launch.
Grayscale has updated its registration statement for the XRP Trust to move toward an ETF structure. The trust now follows an updated reference rate provider to determine the value of XRP in its calculations.
