© Reuters
NEW YORK – Grayscale Investments has incorporated Ripple (XRP) into its Digital Large Cap Fund (GDLF), acquiring a 2.54% position in the cryptocurrency. This strategic move has sparked conversations among investors about the possibility of a Ripple spot exchange-traded fund (ETF) emerging in the near future. The addition of Ripple to Grayscale’s portfolio follows the recent authorization of a spot Bitcoin ETF and closely precedes an Ethereum ETF planned for May.
In related crypto market news, innovative financial company Borroe Finance completed a successful pre-sale of its $ROE tokens, selling over 222 million tokens and securing $2.6 million in funding. Borroe Finance is at the forefront of integrating Web3 technologies into the financial sector by providing instant financing solutions. Its platform uses artificial intelligence for risk assessment and offers loans backed by non-fungible tokens (NFTs).
The cryptocurrency landscape is poised for significant growth, with Standard Chartered forecasting an influx of almost $100 billion, a development attributed to the introduction of spot ETFs. These financial instruments are expected to facilitate access to cryptocurrencies for a wider range of investors, potentially improving the liquidity and stability of cryptocurrency markets.
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