Crypto fund manager Grayscale is launching an XRP trust that could pave the way for a spot XRP exchange-traded fund (ETF) in the U.S.

The closed-end fund will offer accredited investors direct exposure to XRP (XRP). Grayscale previously offered an XRP Trust but dissolved it in 2021 following the U.S. Securities and Exchange Commission’s 2020 lawsuit against Ripple Labs that alleged the XRP token is a security under federal securities law.

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