Grayscale Launches First U.S. XRP Trust, Eyes Future ETF

The new trust offers accredited investors exposure to XRP, potentially paving the way for a spot XRP ETF.

Grayscale has introduced a new XRP trust, providing accredited investors direct exposure to the cryptocurrency.
This move follows the SEC's approval of Grayscale's Bitcoin and Ethereum ETFs earlier this year.
The XRP trust could evolve into a spot XRP ETF, pending future regulatory approvals.
XRP's price saw an 8% spike following the announcement of the new trust.
Grayscale's launch comes after Ripple's partial legal victory against the SEC, which had previously challenged XRP's regulatory status.