There isn’t a Grayscale XRP ETF that has been approved by the SEC today. However, there is a Grayscale ETF which includes XRP that was approved this week. It is known as the Grayscale Digital Large Cap Fund.
The manager of the new Exchange Traded Fund (ETF) is Grayscale Investments Sponsors, LLC, a wholly owned subsidiary of Digital Currency Group., Inc. (one of the forerunners of the crypto revolution)
The custodian for the Fund is Coinbase Custody Trust Company, LLC. The administrator and transfer agent of the Fund will be BNY Mellon Asset Servicing.
The Fund is a Cayman Islands LLC and will include ADA, XRP, SOL, ETH, and Bitcoin.
The Fund will seek to (i) provide large cap coverage of the digital asset market; (ii) minimize transaction costs through low turnover of the Fund’s portfolio; and (iii) create a portfolio that could be replicated through direct purchases in the digital asset market.
It is not a closed list. If the CoinDesk 20 Index (which supports the ETF) adds further relevant digital assets, those could be added to the ETF in the future.
With the introduction of the Grayscale Crypto Digital Large Cap ETF, the Grayscale XRP ETF will more than likely be fast-tracked. That could lead to a further increase in demand for XRP tokens.
The rise of availability of ETFs in crypto continues. The inclusion of up to 4 altcoins in this new ETF signals a potential end to the altcoin winter many commentators have been lamenting. For now bitcoin dominates the ETF with almost 80 percent. XRP is only expected to be 4,99 percent. Less than ETH at over 11 percent.
Author: Andy Samu
The editorial team at #DisruptionBanking has taken all precautions to ensure that no persons or organizations have been adversely affected or offered any sort of financial advice in this article. This article is most definitely not financial advice.
#XRP #SOL #BTC #ETH #ETF #Grayscale
See Also:
First XRP ETF Outperforms Crypto Market (XXRP) | Disruption Banking
21Shares launches BOLD, the world’s first Bitcoin and Gold ETP | Disruption Banking
