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Grayscale Announces It Will Disband XRP Trust Fund

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The promoters have liquidated the trust's XRP and the trust will terminate upon distribution of net cash proceeds.

Rhythm BlockBeats news, on January 14, Grayscale issued a statement today saying that it is working to dissolve the XRP trust fund. In response to the US Securities and Exchange Commission’s lawsuit against Ripple, some important market participants have announced Relevant measures have been taken, including delisting XRP from the encrypted trading platform and stopping its market maker services. These may make it more and more difficult for American investors to invest in XRP, including participating in trusts, converting XRP into US dollars, etc.

Greyscale mentioned: "Regarding the dissolution, the promoters have liquidated the trust's XRP, and intends to distribute net cash proceeds to Trust shareholders, net of fees and with appropriate provisions, and to accept any applicable withholdings. The Trust will terminate upon distribution of net cash proceeds."

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