January 28, 2021

Grayscale dissolves XRP Trust

Grayscale dissolves XRP Trust

Investment firm Grayscale announced the termination of the XRP trust.

In a press release published in Wednesday, the company cites the SEC's decision to sue Ripple and the uncertainty about the future of the crypto project.

In response to the SEC lawsuit, many major participantsthe market abandoned Ripple services, and the main exchanges delisted XRP. We have found that it will be more difficult for US investors, including us, to convert XRP to US dollars. Due to this, the sponsor decided to liquidate the XRP trust.

As previously reported, many companies previouslycollaborators with Ripple began to distance themselves from the project. This week, the CEO of Bakkt said he has no intention of adding Ripple cryptocurrency to his platform.

However, non-US regulators have a different approach to XRP classification. For example, the Japanese authorities regard XRP as a cryptocurrency regulated by the payment systems law.

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According to the materials www.theblockcrypto.com