According to a recent statement by Gary Scale, the company has launched a new investment fund for the digital currency Ripple (XRP). The publication of this news caused the price of Ripple to grow by 8%.
List of titles
news summary
- Grayscale announced the launch of the Ripple investment fund.
- In the past two months, the company has launched similar products, such as investment funds, for MakerDao, Sui and several other currencies.
According to CryptoSlate, Grayscale has announced that the Ripple Fund will operate similarly to its other single-asset funds and focus exclusively on XRP, the native token of the Ripple-backed XRPL blockchain.
Ripple price
XRP:
After the publication of this news, it grew by about 8%. Rayhaneh Sharif-Askary, Head of Grayscale's research and products department, pointed out the importance of this investment fund by explaining the applications of Ripple in the real world. He pointed out:
Ripple (XRP) has the potential to change the infrastructure of traditional finance by enabling cross-border payments that take seconds.
This fund is available for daily payouts from qualified large investors and reputable institutions.
This statement after the launch of Maker Funds
MKR:
Bittensor, Sui and some other tokens have been published in the last two months. The launch of Gary Scale's Sui Investment Fund (SUI) this week has caused its price to grow by 27%.
Analysts consider the launch of these funds to be an important step in the development of Grayscale digital currency investment products. Gary Skille first on Bitcoin Investment Funds
BTC:
and Ethereum
ETH:
It was focused and gradually converted these funds into spot ETFs of Bitcoin and Ethereum.
Is Ripple ETF on the way?
Ripple's Heylords expect the future offering of this product to help get Ripple's ETFs approved by the Securities and Exchange Commission (SEC). They believe that the launch of Bitcoin and Ethereum ETFs this year indicates that it is possible to launch similar funds for other digital assets.
However, Nate Geraci, head of the ETF store, pointed out that the approval of ETFs also requires some political support, and pointed out that this path may not be so simple.
In addition, Ripple's legal battle with the SEC could pose challenges to its ETF offering. Some analysts believe that it is unlikely that the US Securities and Exchange Commission will approve another ETF under the current conditions.
Others believe that if the regulators do not classify digital currencies as securities, the probability of approval of the Ripple ETF will increase.
