Grayscale Investments Begins Dissolution of XRP Trust Citing Ripple SEC Suit

Grayscale Investments Begins Dissolution of XRP Trust Citing Ripple SEC Suit

Cash proceeds from the Trust’s liquidated XRP will be distributed to Trust shareholders, Grayscale said.


Related News

Grayscale Investments Terminates XRP Trust Citing Impact of SEC Lawsuit Again...

Grayscale Investments is shutting down its Grayscale XRP Trust and liquidating its XRP holdings in order to distribute cash proceeds to the trust’s shareholders. The firm cited difficulty in converting XRP into U.S. dollars following the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple. Grayscale Axes XRP Trust Grayscale Investments announced Wednesday that it is commencing the “dissolution of Grayscale XRP Trust.” The company detailed that on Dec. 22, the U.S. Securities and Exchange Commission (SEC) decided “to file a federal court....

Grayscale Drops XRP From Large Cap Crypto Fund Following Ripple SEC Suit

Grayscale announced it ditched XRP on Dec. 31. Additionally, the firm's XRP Trust stopped accepting new subscriptions on Dec. 23.

Grayscale Investments liquidates all of its XRP... while it still can

Grayscale is dissolving its XRP Trust and will distribute cash to investors after liquidating all XRP held by the trust. Institutional crypto-fund manager Grayscale Investments has begun the dissolution of its XRP Trust in response to the Security and Exchange Commission’s December 2020 lawsuit alleging the XRP token is a security under U.S. law.According to an announcement published Wednesday, Grayscale decided to dissolve the trust in response to the spate of XRP delistings from major crypto-asset exchanges after the SEC’s complaint was filed. Grayscale concluded: “It is likely to be....

Grayscale Investments Scooped Up Over 17,000 BTC in the Last Seven Days

During the last seven days, Grayscale Investments purchased 17,100 BTC or $182 million worth of bitcoin using today’s exchange rates. The company’s bitcoin position is now close to 450,000 BTC worth roughly $4.7 billion. The Grayscale Bitcoin Trust (GBTC) is a very popular investment vehicle and in 2020 the trust has obtained a massive amount of BTC. Today, GBTC has $4.7 billion assets under management (AUM), according to data provided by bybt.com. Grayscale’s bitcoin position is also displayed on the company website as well for transparency purposes. Since the Grayscale....

Grayscale Surpasses $10 Billion in Crypto Under Management With Over 500,000 ...

Grayscale Investments has surpassed $10 billion in cryptocurrency assets under management. About $8.85 billion are held in the Grayscale Bitcoin Trust, which now holds more than 500,000 bitcoins. Over $10 Billion Under Management Grayscale Investments announced Tuesday that it has surpassed a major milestone in cryptocurrency assets under management (AUM), which the total now stands at $10.4 billion. The company offers 10 cryptocurrency products, all of which are single-asset trusts except the Digital Large Cap Fund. Most of the funds are held in the Grayscale Bitcoin Trust (GBTC), which....