Grayscale, a leading digital asset manager, has reopened private placement offerings for several cryptocurrency trusts, including its XRP Trust. This offering is now available to accredited investors, allowing them to subscribe to shares of 18 key crypto trusts as of September 15. Among these trusts are the Grayscale Avalanche Trust, Bitcoin Cash Trust, Solana Trust, and the recently reintroduced XRP Trust.
Direct Exposure to Digital Assets via Private Placements
Through these private placements, accredited investors can purchase shares of these trusts at their net asset value (NAV). This approach provides direct exposure to the underlying digital assets without the complexities of managing the tokens. Grayscale’s products, including the XRP Trust, initially begin as private placements, offering investors a structured way to gain exposure to cryptocurrencies.
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However, shares bought during this stage come with a one-year holding period, limiting their transfer or sale. Currently, the XRP Trust and eight other products, such as the Grayscale Sui Trust, remain in this private placement phase.
Grayscale XRP Trust Sparks Investor Interest
The reopening of the XRP Trust follows Grayscale’s decision to bring the product back to the market. This move has sparked bullish sentiment around XRP while its value steadily increasing over the past week. Some XRP advocates view this as a potential sign that an XRP ETF could be on the horizon.
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Grayscale’s XRP Trust allows investors to gain secure exposure to XRP without the hassle of direct token management. Investors can benefit from XRP’s market value, minus fees and expenses, through shares that mirror XRP’s price.
As of September 17, Grayscale’s XRP Trust showed strong performance, with its NAV per share rising to $11.77 from $10.31 on September 6, reflecting a 0.34% increase in just one day. The trust manages assets worth $622,376.55, with an XRP per share of 19.98. Grayscale charges a 2.50% management fee, with no performance-based fees attached.
