Grayscale Investments Liquidates all of its XRP | News

bKash, Mobile Money open payment corridor Malaysia/Bangladesh
January 14th 2021
Price analysis 1/13: BTC, ETH, XRP, LTC, ADA, BCH, DOT, XLM, LINK, BNB
January 14th 2021

Popular investment firm Grayscale Investments has started to liquidate all of its XRP holdings, according to a press release shared by the company yesterday.

According to it, Grayscale Investments has decided to dissolve its XRP Trust as a result of the SEC’s recent lawsuit against Ripple in which the regulator claims XRP is a security under US law.

The news comes just a few days after the company announced the liquidation of its XRP’s positions in its Digital Large Cap Fund.

In particular, Grayscale said:

“In response to the SEC’s action, certain significant market participants have announced measures, including the delisting of XRP from major digital asset trading platforms, resulting in the Sponsor’s conclusion that it is likely to be increasingly difficult for U.S. investors, including the Trust, to convert XRP into U.S. dollars, and therefore continue the Trust’s operations.”

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

All XRP held by the trust has already been liquidated, and Grayscale plans to distribute net cash proceeds to XRP Trust shareholders after deducting expenses.

Source link

XRP Editor
XRP Editor
Editor at, gathering information and insights about Ripple, XRP and related things from around the internet. Opinions deriving from any content do not represent ours. All content copyrights are with the original creators and holders. By clicking on the 'source' link you can visit the originating place of the content.

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: