Grayscale Investments shocked the crypto community this week by launching the XRP Trust, following its previous closure due to the Ripple Labs versus SEC lawsuit.
Ripple CEO Reacts
This landmark move has triggered commentary from Ripple Labs CEO Brad Garlinghouse. Taking to the X platform, Garlinghouse noted he was pleasantly surprised to see the news. He claimed it was inevitable considering the coin's legal clarity now secured in the United States.
Changing Tide for XRP
Before the lawsuit in December 2020, Ripple Labs had many U.S.-based business partners, including Moneygram and top industry exchanges. To avoid being caught in the legal saga, many had to temporarily cut ties with the coin, affecting Ripple's business and XRP prices for the past three years.
Future Possibilities
It is worth noting that the tide is turning for XRP. This Grayscale XRP Trust might usher in more related products for both accredited and retail investors. Many speculate about launching an XRP ETF product, as Grayscale has previously done with Bitcoin and Ethereum spot ETF products.
This Trust launch by Grayscale might be a significant step for further XRP development in the U.S. market.
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