BCGAME - Free 5BTC Daily Bonus!In a surprising development that has captured the attention of the cryptocurrency community, the price of XRP surged 8% as first XRP fund launched in the United States. In the last hour alone, the price of XRP has surged 6.4% on the back of the very positive news. Will the XRP fund pave the way for a spot exchange-traded fund (ETF)?
Cryptocurrency fund manager Grayscale Investments announced on September 12 the launch of an XRP fund, the Grayscale XRP Trust. The fund could pave the way for a future spot XRP ETF in the US, taking the cryptocurrency to new heights.
“We believe the Grayscale XRP Trust gives investors exposure to a protocol with an important real-world use case,” said Grayscale’s head of product and research, Rayhaneh Sharif-Askary. “By facilitating cross-border payments that take just seconds to complete, XRP has the potential to transform legacy financial infrastructure.”
As highlighted by the manager in her release, the Trust offers investors the opportunity to gain exposure to XRP, the token that powers the XRP Ledger (XRPL), a peer-to-peer distributed network created to facilitate international financial transactions.
“The Trust is now open for daily subscription by accredited qualified individual and institutional investors. The Trust operates like Grayscale’s other single-asset investment funds and is invested exclusively in the token that underpins the XRP Ledger (XRP).”
The news pushed the price of XRP above the $0,57 zone. At the time of publication, the price of XRP was trading at $0,5722, up 8.4% in the last 24 hours. In its weekly development, the token has seen a significant recovery, gaining 3.4% in the last seven days.
XRP (XRP) trading volume currently stands at $1.836.901.804 over the past 24 hours, representing a 92,10% increase from a day ago and signaling a recent surge in market activity.
