According to BlockBeats, on September 12, according to Grayscale’s official website, the management fee of Grayscale XRP Trust is 2.5%, and the CoinDesk Ripple Price Index (XRX) provides a reference exchange rate denominated in US dollars for its spot price. As of September 11, the net asset value per share was temporarily reported at US$10.73, and the asset management scale was US$247,921.68.
BlockBeats previously reported that Grayscale will launch the first US XRP Trust to pave the way for a potential ETF. The first XRP Trust is a “closed-end” fund that will provide qualified investors with the opportunity to invest directly in XRP. Trusts and ETFs are two different investment products. ETFs must be approved by the U.S. Securities and Exchange Commission because they are sold directly to retail investors, while the structure of the trust and sales pitches to qualified investors are subject to looser regulation. Even so, a trust can become an ETF as long as it obtains proper regulatory approval.
