🟦The asset management company Grayscale is launching a new trust fund that could pave the way for a spot Bitcoin ETF for XRP in the US.
🟦The closed fund will offer accredited investors direct access to XRP. Previously, Grayscale had offered an XRP Trust, but it was dissolved following a lawsuit filed by the US Securities and Exchange Commission (SEC) against Ripple Labs.
🟦Since then, Ripple has won the legal battle against the SEC. According to Grayscale’s Head of Products and Research, Rayhaneh Sharif-Askari, the new fund will provide investors with the opportunity to explore the XRP Ledger protocol. Following this news, XRP surged by 8%.