{"id":596,"date":"2021-01-15T11:30:00","date_gmt":"2021-01-15T11:30:00","guid":{"rendered":"https:\/\/www.innov8fs.co.za\/blog\/?p=596"},"modified":"2026-03-18T11:46:46","modified_gmt":"2026-03-18T11:46:46","slug":"ripple-effect-institutional-giant-grayscale-to-dissolve-xrp-trust","status":"publish","type":"post","link":"https:\/\/www.innov8fs.co.za\/blog\/2021\/01\/15\/ripple-effect-institutional-giant-grayscale-to-dissolve-xrp-trust\/","title":{"rendered":"Ripple Effect: Institutional Giant Grayscale To Dissolve XRP Trust"},"content":{"rendered":"

\"\"<\/p>\n

Grayscale Investments is dissolving the Grayscale XRP Trust in light of the U.S. Securities and Exchange Commission\u2019s lawsuit against Ripple.<\/p>\n

Grayscale, which is the largest digital currency asset manager in the world,\u00a0says\u00a0it will liquidate the product and distribute the money to its shareholders.<\/p>\n

\u201cIn 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.\u201d<\/em><\/p>\n

Grayscale\u00a0removed\u00a0XRP from the Grayscale Digital Large Cap Fund last week.<\/p>\n

The SEC\u2019s lawsuit accuses Ripple, its chief executive officer Bradley Garlinghouse and co-founder Christian Larsen of raising over $1.3 billion by selling XRP in an unregistered digital securities offering.<\/p>\n

In the wake of the lawsuit, at least 27 cryptocurrency organizations have now\u00a0dropped\u00a0support for XRP.<\/p>\n

Ripple general counsel Stuart Alderoty\u00a0tells\u00a0his Twitter following that the company will file its initial response to the SEC\u2019s allegations in a matter of weeks.<\/p>\n

Garlinghouse\u00a0says\u00a0the company is looking forward to its day in court and to a change in leadership at the SEC.<\/p>\n

\u201cWe\u2019re on the right side of the facts and of history, and look forward to our day in court \u2013 as well as engaging with the new SEC leadership once appointed.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Grayscale Investments is dissolving the Grayscale XRP Trust in light of the U.S. Securities and Exchange Commission\u2019s lawsuit against Ripple. Grayscale, which is the largest…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-596","post","type-post","status-publish","format-standard","hentry","category-innov8ions"],"_links":{"self":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts\/596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/comments?post=596"}],"version-history":[{"count":1,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts\/596\/revisions"}],"predecessor-version":[{"id":598,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts\/596\/revisions\/598"}],"wp:attachment":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/media?parent=596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/categories?post=596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/tags?post=596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}