Grayscale investments Commences Dissolution of Grayscale XRP Trust

New York, Jan. 13, 2021 — Grayscale Investments, the world’s largest digital currency asset manager and sponsor (“Sponsor”) of Grayscale XRP Trust (XRP) (the “Trust”), announced that it has commenced dissolution of the Trust following the Securities and Exchange Commission’s December 22, 2020 decision to file a federal court action against certain third parties asserting that XRP is a “security” under federal securities law.

In response to the SEC’s action, certain significant market participants have announced measures, including the delisting of XRP from major digital asset trading platforms, resulting in the Sponsor’s conclusion that it is likely to be increasingly difficult for U.S. investors, including the Trust, to convert XRP into U.S. dollars, and therefore continue the Trust’s operations.

In connection with the dissolution, the Sponsor has liquidated the Trust’s XRP and intends to distribute the net cash proceeds to Trust shareholders, after deducting expenses and providing appropriate reserves and subject to any applicable withholding. The Trust will terminate following distribution of the net cash proceeds.

About Grayscale Investments®

Grayscale Investments is the world’s largest digital currency asset manager, with more than $20B in assets under management as of December 31, 2020. Through its family of 9 investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscale’s products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. Grayscale products are distributed by Genesis Global Trading, Inc. (Member FINRA/SIPC, MSRB Registered). For more information, please visit www.grayscale.co or follow us on Twitter, @Grayscale.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

E-Crypto News Executive Interviews



Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

Crypto casinos
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin57,967 0.74 % 2.07 % 1.98 %
Ethereum4,436.8 0.55 % 2.48 % 2.72 %
Binance Coin621.36 0.49 % 0.69 % 5.27 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Solana204.35 1.38 % 1.40 % 12.09 %
Cardano1.600 0.79 % 0.86 % 13.58 %
XRP0.9928 0.57 % 2.58 % 7.15 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
Dogecoin0.2215 0.68 % 1.42 % 7.23 %

bitcoin
Bitcoin (BTC) $ 58,198.00
ethereum
Ethereum (ETH) $ 4,445.92
binance-coin
Binance Coin (BNB) $ 621.70
tether
Tether (USDT) $ 0.999598
solana
Solana (SOL) $ 206.15
cardano
Cardano (ADA) $ 1.61
xrp
XRP (XRP) $ 0.9992
polkadot
Polkadot (DOT) $ 37.07
usd-coin
USD Coin (USDC) $ 0.999612
dogecoin
Dogecoin (DOGE) $ 0.216036