Grayscale announces it will dissolve XRP Trust Fund

According to BlockBeats, on January 14, Grayscale announced that it is dissolving the XRP Trust Fund. In response to the U.S. Securities and Exchange Commission's lawsuit against Ripple, some important market participants have announced relevant measures, including delisting XRP from crypto trading platforms and stopping its market maker services. These may make it increasingly difficult for U.S. investors to invest in XRP, including participating in the trust and converting XRP into U.S. dollars.

Grayscale mentioned: “Regarding the dissolution, the sponsor has liquidated the trust’s XRP and intends to distribute the net cash proceeds to the trust shareholders, deducting expenses and providing appropriate reserves, and subject to any applicable withholdings. The trust will terminate after the distribution of net cash proceeds.”

As previously reported, many market-facing cryptocurrency companies have begun to distance themselves from XRP. Ripple’s previous dispute with the SEC also triggered a lawsuit from investor Tetragon Financial Group, which invested in Ripple’s Series C financing and now requires Ripple to return its investment and withdraw its shares.