Grayscale Investments to liquidate XRP-based investment trust

Grayscale Investments has announced the liquidation of its XRP-based investment trust. The decision was influenced by the lawsuit by the U.S. Securities and Exchange Commission (SEC) against Ripple dated December 23.

Earlier today we announced that we’ve commenced the dissolution of our $XRP Trust.

More information in our press release here: https://t.co/vHO8qQRcqJ

— Grayscale (@Grayscale) January 13, 2021

The company said that following the lawsuit, market participants announced the delisting of XRP from major digital-asset trading platforms.

“It will be harder for American investors to convert XRP into US dollars, which will complicate the trust’s operations,” Grayscale Investments said.

The company plans to distribute the proceeds from the XRP sale among investors. The investment trust will then cease to exist.

Earlier on January 5, filed another lawsuit against Ripple.

On January 8, Ripple CEO Brad Garlinghouse answered questions about the SEC’s claims.

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