Grayscale, one of the world's financial giants, announced yesterday that it would launch the first US XRP trust. This move by Grayscale was interpreted as paving the way for a potential spot XRP ETF.
While Grayscale's XRP move was met with great enthusiasm in the cryptocurrency industry, Ripple CEO Brad Gralinghouse also commented on this decision.
Garlinghouse, who shared from his X account, stated that he was surprised to see the news. However, Garlinghouse argued that this development was inevitable, considering the prime clarity that XRP has now gained in the US.
According to the Ripple CEO, this move by Grayscale paves the way for further growth of XRP, and he said that XRP growth is only a matter of time.
Was (pleasantly) surprised to see this news…though inevitable, as well?!
As I’ve said before, with XRP having regulatory clarity in the US and other countries, I expect it’s only a matter of time for this space to grow. https://t.co/tIqZMZeuNW
— Brad Garlinghouse (@bgarlinghouse) September 12, 2024
Evaluating the latest developments, experts stated that the situation has now turned in favor of XRP.
Experts stated that Grayscale's launch of a trust for a product could pave the way for a spot ETF in the future, and many people predict that the XRP trust could eventually turn into a spot XRP ETF.
Experts stated that Grayscale is seen as the primary driver for spot ETF offerings in the market, citing Grayscale's Bitcoin (BTC) and Ethereum (ETH) products as examples of this situation.
XRP, which experienced a sudden rise after the Grayscale news, continues to be traded at $ 0.566 with an increase of more than 5% in the last 24 hours.
*This is not investment advice.
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