Grayscale Investments is opening the doors to new opportunities for its investors with the launch of its new Ripple (XRP) trust.
The cryptocurrency asset manager recently announced the launch of its new product, the Grayscale XRP Trust, an investment fund that allows investors to gain exposure to Ripple's XRP cryptocurrency.
The launch of this new Grayscale investment product comes as investment firms have identified a growing interest in digital assets from investors.
With the Grayscale XRP Trust, the digital asset firm seeks to further diversify its product offering to meet the needs and demands of its clients.
Grayscale offers investors exposure to XRP
Grayscale Investments’ new crypto trust is designed to offer investors a unique opportunity to access XRP, the cryptocurrency that powers the XRP Ledger (XRPL) blockchain network, created to facilitate fast and efficient financial transactions globally.
Rayhaneh Sharif-Askary, Head of Product and Research at Grayscale, he highlighted in a press release that the launch of this new cryptocurrency trust will provide investors with an on-ramp to gain exposure to a protocol with a significant real-world use case.
According to Sharif-Askary, the Grayscale XRP Trust will be open for daily subscription to accredited investors, both individual and institutional, and will invest exclusively in the XRP cryptocurrency. Thus, through this investment vehicle, Grayscale will enable investors to participate in the growth potential of a cryptocurrency that has proven to be relevant in the field of cross-border financial transactions.
Grayscale, on the other hand, has been a pioneer in the creation of cryptocurrency-based investment products, and the launch of this trust reflects its ongoing commitment to providing investors with access to digital assets that are at the forefront of global technological innovation.
Ripple has great potential for real-world use
With the launch of the Grayscale XRP Trust, the crypto investment firm is not only looking to offer access to XRP, but also to highlight the transformative potential of Ripple, the company behind the cryptocurrency. Grayscale has noted that Ripple, through XRP, has the ability to revolutionize legacy financial infrastructure by facilitating cross-border payments that are completed in a matter of seconds.
The importance of this technology lies in its ability to improve transaction efficiency and reduce costs associated with sending money internationally, Sharif-Askary stressed.
“By facilitating cross-border payments that take just seconds to complete, XRP has the potential to transform legacy financial infrastructure”, said Grayscale's head of product and research.
The focus on XRP’s practical utility is key to attracting investors looking for more than just financial returns. The fund could be attractive to investors who want to get involved in the blockchain technology industry, especially in projects that are changing the global financial landscape.
XRP price soars: Up 4,4% in the last few hours
The news of the launch of the Grayscale XRP Trust has had a positive impact on the price of XRP, which has seen a 4,4% increase in the last few hours, according to data consulted on the CoinMarketCap platform.
Source: CoinMarketCap
The surge in XRP’s price reflects the growing confidence that investors have in the cryptocurrency’s potential. According to the platform, daily trading volume for XRP also skyrocketed following the Grayscale news, rising by more than 90% to $1.600 billion in trading volume on Thursday.
XRP’s market cap has also increased, surpassing $31.600 billion. With this value, XRP is positioned as the seventh largest cryptocurrency in the crypto market.
Grayscale continues to expand its crypto product offering
On the other hand, the launch of the new XRP-based trust reflects Grayscale's interest in accelerating the expansion of its product portfolio. In early August, the firm also launched new XRP-based investment trusts. SUI and TAO, further expanding investment opportunities for its clients in the cryptocurrency market.
Grayscale’s product diversification, which now includes BTC, ETH, XRP, SUI, TAO, and many other cryptocurrencies, shows a clear strategy by the firm to adapt to market trends and meet the growing demand for digital assets.
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
