In a significant development for the XRP cryptocurrency, Grayscale Investments announced plans to launch an XRP Trust Fund. The news immediately sent XRP prices soaring, as investors anticipate a potential future XRP ETF.
This announcement comes on the heels of Ripple co-founder and executive chairman Chris Larsen’s endorsement of Kamala Harris for President. The combination of these events has reignited discussions about the possibility of an XRP ETF in the United States.
Grayscale has a successful track record with crypto investment trusts, having previously launched trusts for Bitcoin and Ethereum. Both of these trusts were eventually converted into ETFs, gaining approval earlier this year. The launch of an XRP Trust Fund suggests that Grayscale may be exploring similar plans for XRP.
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