Grayscale is Dissolving XRP Trust

Grayscale is Dissolving XRP Trust

By Abhimanyu Krishnan | News | 14 Jan 2021


Grayscale Investments announced that it will be dissolving its XRP Trust as a result of the SEC lawsuit filed against Ripple, according to a press release issued on Jan. 13

  • Grayscale’s is dissolving the trust because it is concerned that, as multiple companies distance themselves from Ripple, the increasing isolation of XRP may make it difficult to convert XRP into USD
  • The trust has been liquidated and the net cash will be distributed among shareholders; at the time of the announcement, Grayscale held approximately $11.3 million in XRP
  • Grayscale had suspended XRP from its offerings a few days after news of the lawsuit, but stopped shy of dissolving the trust; it has also removed XRP from its Digital Large Cap Fund
  • The move is another blow to Ripple, which is already seeing the XRP token being delisted from multiple exchanges, including Binance, BitWise and Coinbase

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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