• no ads
  • no ads

Grayscale is Dissolving XRP Trust

Grayscale Investments announced that it will be dissolving its XRP Trust as a result of the SEC lawsuit filed against Ripple, according to a press release issued on Jan. 13

  • Grayscale’s is dissolving the trust because it is concerned that, as multiple companies distance themselves from Ripple, the increasing isolation of XRP may make it difficult to convert XRP into USD
  • The trust has been liquidated and the net cash will be distributed among shareholders; at the time of the announcement, Grayscale held approximately $11.3 million in XRP
  • Grayscale had suspended XRP from its offerings a few days after news of the lawsuit, but stopped shy of dissolving the trust; it has also removed XRP from its Digital Large Cap Fund
  • The move is another blow to Ripple, which is already seeing the XRP token being delisted from multiple exchanges, including Binance, BitWise and Coinbase
Related post