Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Crypto fund manager Grayscale is launching an XRP trust that could pave the way for a spot XRP exchange-traded fund in the U.S.. Grayscale previously offered an XRP Trust but dissolved it in 2021 following the U.S. Securities and Exchange Commission’s 2020 lawsuit against Ripple Labs that alleged the XRP token is a security under federal securities law.
Ripple has since emerged victorious in a widely-followed court case against the SEC, clearing the regulatory headwinds for the closely related XRP token. “We believe Grayscale XRP Trust gives investors exposure to a protocol with an important real-world use case,” said Grayscale’s Head of Product & Research, Rayhaneh Sharif-AskaryThe Trust functions like Grayscale’s other single-asset investment trusts, and is solely invested in the token underpinning the XRP Ledger.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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