Grayscale XRP Trust Placement Now Available for Eligible Accredited Investors
The recent announcement has confirmed that the private placement is now accessible to accredited investors. From September 15 onwards, eligible participants have the opportunity to subscribe to shares of 18 significant crypto trusts, including the Grayscale Avalanche Trust, Grayscale Bitcoin Cash Trust, Grayscale Solana Trust, and the recently reintroduced Grayscale XRP Trust.
Grayscale Placement is Live
These private placements enable accredited investors to acquire shares of these trusts at their net asset value (NAV), providing direct exposure to the underlying digital assets without the complexities of managing the tokens themselves.
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It is worth noting that Grayscale products, such as the Grayscale XRP Trust, are initially launched as private placements, offering accredited investors a conventional investment structure for gaining exposure to cryptocurrencies.
During this phase, the shares purchased are subject to a one-year holding period, thereby restricting their transfer or sale. Currently, the Grayscale XRP Trust and eight other products, including the Grayscale Sui Trust, are in the private placement stage.
Performance and Trends of Grayscale XRP Trust
This announcement from Grayscale comes shortly after the reintroduction of the XRP Trust into the financial market. This move has triggered positive sentiment regarding XRP, contributing to the asset’s consistent uptrend over the past week. Many XRP supporters believe this could be a precursor to an XRP ETF.
The Grayscale XRP Trust provides a secure and convenient means for investors to gain exposure to XRP without the challenges of directly purchasing, storing, and safeguarding it. By investing in the trust, shareholders can benefit from the value of XRP minus fees and expenses, with the shares mirroring the market price of XRP.
As of September 17, the performance of Grayscale’s XRP Trust has been noteworthy, boasting a NAV per share of $11.77, up from $10.31 on September 6, representing a 1-day increase of 0.34%. The trust currently manages assets worth $622,376.55, with an XRP per share of 19.98. Grayscale imposes a 2.50% management fee with no performance fee.
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Michael Onche: Crypto aficionado and seasoned analyst. With a keen eye for market trends and a passion for blockchain technology, he deciphers the intricacies of cryptocurrency with precision. Michael’s expertise and insightful content make him a trusted guide for navigating the dynamic world of digital assets.
