Cryptocurrencies
XRP Rises as Grayscale Offers Trust for 7th Biggest Token
- XRP’s price jumped by almost 10% on the Grayscale news
- XRP has a market cap of around $32 billion, per CoinMarketCap
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Crypto asset manager Grayscale Investments said it has begun to offer the Grayscale XRP Trust, helping to send the price of the seventh-largest digital asset up by almost 10%.
The trust aims to provide investors the opportunity to gain exposure to the token that powers the XRP Ledger, a distributed, peer-to-peer network created to facilitate cross-border financial transactions, Grayscale said in a statement Thursday. The investment product is available to eligible individual and institutional accredited investors.