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XRP, BCH, LTC & ETH: Grayscale Adds 4 New Crypto Trusts

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https://www.coindesk.com/xrp-bch-ltc-eth-grayscale-adds-4-new-crypto-trusts/?utm_content=buffer45af6&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

 

Grayscale Investments (https://grayscale.co/) has ~$2.1 billion in assets under management.

While XRP was already part of the Digital Large Cap Fund, it is now available individually. 

 

 

 

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2 minutes ago, MBi said:

https://www.coindesk.com/xrp-bch-ltc-eth-grayscale-adds-4-new-crypto-trusts/?utm_content=buffer45af6&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

 

Grayscale Investments (https://grayscale.co/) has ~$2.1 billion in assets under management.

While XRP was already part of the Digital Large Cap Fund, it is now available individually. 

 

 

 

Things like this are much more important than Coinbase 

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Guest

Thanks! This is huge money. Real institutional investors in the market. 2.5% fee! Eh I'll just buy my xrp straight up and own / manage it myself 

Edited by Guest

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21 minutes ago, MBi said:

https://www.coindesk.com/xrp-bch-ltc-eth-grayscale-adds-4-new-crypto-trusts/?utm_content=buffer45af6&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

 

Grayscale Investments (https://grayscale.co/) has ~$2.1 billion in assets under management.

While XRP was already part of the Digital Large Cap Fund, it is now available individually. 

 

 

 

Will this be available immediately to OTC exchanges or will it be like the large cap fund where they will wait 1 year and its only available to accredited investors initially? 

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hmmmm it will be interesting to see if they decide to pursue SEC approval for their xrp-only fund.  My guess is that their chances of obtaining regulatory approval will be much better than they were with their BTC investment trust.

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2 minutes ago, bachmanity said:

Will this be available immediately to OTC exchanges or will it be like the large cap fund where they will wait 1 year and its only available to accredited investors initially? 

Grayscale's products are available to qualified accredited investors only. 

 

https://www.investor.gov/additional-resources/news-alerts/alerts-bulletins/investor-bulletin-accredited-investors

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3 minutes ago, bachmanity said:

Will this be available immediately to OTC exchanges or will it be like the large cap fund where they will wait 1 year and its only available to accredited investors initially? 

appears accredited investors to start

https://www.prnewswire.com/news-releases/grayscale-investments-announces-launch-of-bitcoin-cash-investment-trust-ethereum-investment-trust-litecoin-investment-trust-and-xrp-investment-trust-300609004.html

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2 minutes ago, MBi said:

Grayscale's products are available to qualified accredited investors only. 

 

https://www.investor.gov/additional-resources/news-alerts/alerts-bulletins/investor-bulletin-accredited-investors

Their original bitcoin fund, GBTC, is available through OTC exchanges with most big name brokers (charles schwab, TD ameritrade, etc). But I think that is the only one available to everyone.

Hopefully more of their funds become available to average investors who might now want to go through the work of buying on a crypto exchange and storing their own coins. Makes it easier for retirement accounts to invest also.

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6 minutes ago, bachmanity said:

Their original bitcoin fund, GBTC, is available through OTC exchanges with most big name brokers (charles schwab, TD ameritrade, etc). But I think that is the only one available to everyone.

Hopefully more of their funds become available to average investors who might now want to go through the work of buying on a crypto exchange and storing their own coins. Makes it easier for retirement accounts to invest also.

The GBTC fund is more of a disservice to the retail public than anything. It trades at a 52% premium which adds volatility to an already volatile asset class. They would be better suited approving an ETF that will trade at NAV. The ironies of regulators...

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5 minutes ago, XRPonTheIronThrone said:

The GBTC fund is more of a disservice to the retail public than anything. It trades at a 52% premium which adds volatility to an already volatile asset class. They would be better suited approving an ETF that will trade at NAV. The ironies of regulators...

I agree, would much rather see an ETF.

The premium works both ways though, some days it reduces the volatility and some days it increases it. It adds a whole other level of complication in trading GBTC, you have to watch bitcoin price and then also try and guess how the premium will change at the same time. Then you're stuck in the stock over the weekend and nights when BTC can be going all over the place. Oy Vey

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Guest

They have added 7 Cryptos and not 4

BTC

ETH

ETC

LTC

BCH

ZCash

&

Zerps

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6 hours ago, MBi said:

https://www.coindesk.com/xrp-bch-ltc-eth-grayscale-adds-4-new-crypto-trusts/?utm_content=buffer45af6&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

 

Grayscale Investments (https://grayscale.co/) has ~$2.1 billion in assets under management.

While XRP was already part of the Digital Large Cap Fund, it is now available individually. 

 

 

 

Regardless of anything this is great news for the price of XRP. From my understanding, since the XRP fund as it stands today is currently made up of 5,400 share outstanding and each share is the equivalent of 100 XRP - then this means that the fund will have to purchase a total of 540,000 XRP on the open market (or has purchased 540,000 on the open market) to fund their fund. 

To me this represents a total of 540,000 XRP being removed from the total supply available to facilitate on-chain transactions (i.e. the transactions that occur on the RippleNet that use XRP, for whatever the use case may be). So effectively Greyscale's fund has reduced the total current available supply by 540,000 solely with their XRP fund, which doesn't include XRP purchased and locked up to fund their Digital Large Cap Fund, which also includes XRP. 

This is great news. Just wish they had bought more XRP for their fund!

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