{"id":414390,"date":"2021-01-13T16:03:09","date_gmt":"2021-01-13T21:03:09","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=414390"},"modified":"2021-01-13T16:03:09","modified_gmt":"2021-01-13T21:03:09","slug":"grayscale-investments-commences-dissolution-of-grayscale-xrp-trust","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/grayscale-investments-commences-dissolution-of-grayscale-xrp-trust\/","title":{"rendered":"Grayscale Investments Commences Dissolution of Grayscale XRP Trust"},"content":{"rendered":"

\nCash proceeds from the Trust\u2019s liquidated XRP will be distributed to Trust shareholders
\n<\/h2>\n
\n

New York, Jan. 13, 2021 (GLOBE NEWSWIRE) — Grayscale Investments, the world\u2019s largest digital currency asset manager and sponsor (\u201cSponsor\u201d) of Grayscale XRP Trust (XRP) (the \u201cTrust\u201d), announced that it has commenced dissolution of the Trust following the Securities and Exchange Commission\u2019s December 22, 2020 decision to file a federal court action against certain third parties asserting that XRP is a \u201csecurity\u201d under federal securities law.<\/p>\n

In response to the SEC\u2019s action, certain significant market participants have announced measures, including the delisting of XRP from major digital asset trading platforms, resulting in the Sponsor\u2019s 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\u2019s operations.<\/p>\n

In connection with the dissolution, the Sponsor has liquidated the Trust\u2019s XRP and intends to distribute the net cash proceeds to Trust shareholders, after deducting expenses and providing appropriate reserves and subject to any applicable withholding. The Trust will terminate following distribution of the net cash proceeds.<\/p>\n

\n About Grayscale Investments\u00ae<\/b>\u00a0<\/p>\n

Grayscale Investments is the world’s largest digital currency asset manager, with more than $20B in assets under management as of December 31, 2020. Through its family of 9 investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscale’s products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. Grayscale products are distributed by Genesis Global Trading, Inc. (Member FINRA\/SIPC, MSRB Registered). For more information, please visit www.grayscale.co or follow us on Twitter, @Grayscale.<\/p>\n

\n \n <\/p>\n


\n
\n \n <\/div>\n

\n
press@grayscale.co<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Cash proceeds from the Trust\u2019s liquidated XRP will be distributed to Trust shareholders New York, Jan. 13, 2021 (GLOBE NEWSWIRE) — Grayscale Investments, the world\u2019s largest digital currency asset manager and sponsor (\u201cSponsor\u201d) of Grayscale XRP Trust (XRP) (the \u201cTrust\u201d), announced that it has commenced dissolution of the Trust following the Securities and Exchange Commission\u2019s December 22, 2020 decision to file a federal court action against certain third parties asserting that XRP is a \u201csecurity\u201d under federal securities law. In response to the SEC\u2019s action, certain significant market participants have announced measures, including the delisting of XRP from major digital asset trading platforms, resulting in the Sponsor\u2019s conclusion that it is likely to be increasingly difficult for U.S. investors, including … <\/p>\n
Continue reading “Grayscale Investments Commences Dissolution of Grayscale XRP Trust”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-414390","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGrayscale Investments Commences Dissolution of Grayscale XRP Trust - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/grayscale-investments-commences-dissolution-of-grayscale-xrp-trust\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grayscale Investments Commences Dissolution of Grayscale XRP Trust - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Cash proceeds from the Trust\u2019s liquidated XRP will be distributed to Trust shareholders New York, Jan. 13, 2021 (GLOBE NEWSWIRE) — Grayscale Investments, the world\u2019s largest digital currency asset manager and sponsor (\u201cSponsor\u201d) of Grayscale XRP Trust (XRP) (the \u201cTrust\u201d), announced that it has commenced dissolution of the Trust following the Securities and Exchange Commission\u2019s December 22, 2020 decision to file a federal court action against certain third parties asserting that XRP is a \u201csecurity\u201d under federal securities law. In response to the SEC\u2019s action, certain significant market participants have announced measures, including the delisting of XRP from major digital asset trading platforms, resulting in the Sponsor\u2019s conclusion that it is likely to be increasingly difficult for U.S. investors, including … Continue reading "Grayscale Investments Commences Dissolution of Grayscale XRP Trust"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/grayscale-investments-commences-dissolution-of-grayscale-xrp-trust\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-13T21:03:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyNTU0MiMzOTE4MjM3IzIxODE5NTI=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/grayscale-investments-commences-dissolution-of-grayscale-xrp-trust\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/grayscale-investments-commences-dissolution-of-grayscale-xrp-trust\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Grayscale Investments Commences Dissolution of Grayscale XRP Trust\",\"datePublished\":\"2021-01-13T21:03:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/grayscale-investments-commences-dissolution-of-grayscale-xrp-trust\\\/\"},\"wordCount\":302,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/grayscale-investments-commences-dissolution-of-grayscale-xrp-trust\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODEyNTU0MiMzOTE4MjM3IzIxODE5NTI=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/grayscale-investments-commences-dissolution-of-grayscale-xrp-trust\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/grayscale-investments-commences-dissolution-of-grayscale-xrp-trust\\\/\",\"name\":\"Grayscale Investments Commences Dissolution of Grayscale XRP Trust - 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