Leading digital asset manager Grayscale has announced the reopening of its private placement offerings for several cryptocurrency trusts, including XRP.
The announcement stated that the private placement is now open to accredited investors. As of September 15, eligible participants can subscribe to shares of 18 key crypto trusts. They include the Grayscale Avalanche Trust, Grayscale Bitcoin Cash Trust, Grayscale Solana Trust, and the newly reintroduced Grayscale XRP Trust.
These private placements allow accredited investors to purchase shares of these trusts at the net asset value (NAV). This provides direct exposure to the underlying digital assets without the complexities of managing the tokens themselves.
Notably, Grayscale products, including the Grayscale XRP Trust, initially go live as private placements. They offer accredited investors a traditional investment structure to gain exposure to cryptocurrencies.
During this phase, shares purchased are subject to a one-year holding period, restricting their transfer or sale. Currently, the Grayscale XRP Trust and eight other products, such as the Grayscale Sui Trust, remain in the private placement stage.
Grayscale XRP Trust Performance
This announcement from Grayscale comes just days after the asset manager reintroduced the XRP Trust into the financial market.
The move has triggered bullish sentiment around XRP, contributing to the asset’s consistent uptrend over the past week. Many XRP proponents believe this could be a precursor to an XRP ETF.
The Grayscale XRP Trust offers a secure and convenient way for investors to gain exposure to XRP without the challenges of directly purchasing, storing, and safeguarding it. By investing in the trust, shareholders can benefit from the value of XRP minus fees and expenses. The shares mirror the market price of XRP.
As of September 17, the performance of Grayscale’s XRP Trust has been notable. It boasts a NAV per share of $11.77, up from $10.31 on September 6. The NAV per share saw a 1-day increase of 0.34%.
The trust manages $622,376.55 in assets, with an XRP per share of 19.98. Grayscale charges a 2.50% management fee with no performance fee.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
