Grayscale Investments, a company that manages investments in cryptocurrencies, has achieved success in a lawsuit against the U.S. Securities and Exchange Commission (SEC). This victory has made Grayscale more influential and has sparked discussions about the possible reintroduction of XRP, a cryptocurrency, to its Digital Large Cap fund.
This legal triumph follows a similar win for Ripple, the company behind XRP, against the SEC. As a result, members of the XRP community are encouraging Grayscale to consider adding XRP back to its selection of cryptocurrencies in its investment fund.
Grayscale’s Recent Legal Victory and its Legal Implications
Grayscale Investments, a major player in managing digital assets, has recently scored a significant legal triumph against the U.S. Securities and Exchange Commission (SEC). This company, known for its digital investments, accused the SEC of making arbitrary decisions when it turned down the idea of changing the Grayscale Bitcoin Trust into a type of exchange-traded fund (ETF) centered on actual Bitcoin trading. The court ruled in favor of Grayscale, leading some to think that this decision could also make it easier for a Bitcoin ETF focused on real trading to be accepted in the future.
XRP’s Argument for Rejoining Amid Ripple’s Legal Victory
After Grayscale’s legal victory, individuals in the XRP community are advocating for XRP to be added back to Grayscale’s Digital Large Cap Fund. In January 2021, the fund removed XRP from its offerings, a move that came shortly after the SEC’s controversial statement that XRP wasn’t registered as a security. Following this, Grayscale shut down its separate XRP Trust, explaining that trading XRP for U.S. dollars had become difficult due to its removal from major U.S. exchanges.
The recent Ripple-SEC lawsuit concluded with the court favoring Ripple, affirming that XRP isn’t an unregistered security. This outcome led U.S. exchanges like Coinbase and Kraken to put XRP back on their platforms. However, Grayscale hasn’t made any announcements about reintroducing XRP into its fund lineup.
Community members, including an active participant known as “Riz,” are posing important questions. Riz stated on social media, “WHEN WILL XRP RETURN TO GRAYSCALE DIGITAL LARGE CAP? IT’S TIME… FOR FAIR PLAY.” With Grayscale’s recent legal win, voices like Riz’s argue that Grayscale now has both the legal freedom and market motivation to include XRP once again.
@BarrySilbert Victory for $GBTC
Congratulation.. 🥳
When the return of #XRP on @Grayscale Digital Large Cap?
It's time.. A level Playing Field.. https://t.co/QrKDYaxzsh
— RIZ.. Vote John Deaton 4 Senate ☀️ (@RizXRP) August 29, 2023
The amount of XRP being traded has gone up noticeably and is almost back to the levels before the lawsuit. If XRP is put back into Grayscale’s collection of assets, this move could make the positive trend even stronger and help XRP’s place in the market become stronger too.
Right now, Grayscale hasn’t given any hints that it’s thinking about changing its position on XRP. This has left the community and market experts waiting and wondering about what might happen next.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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