Grayscale, the world’s largest digital currency asset manager just announced that it has decided to liquidate and dissolve its Grayscale XRP Trust.

The announcement stated: "After deducting expenses and providing appropriate reserves and subject to any applicable withholding. The Trust will terminate following distribution of the net cash proceeds."

Regarding the reasons, Grayscale explained: "In response to the SEC’s action, certain significant market participants have announced measures, including the delisting of XRP from major digital asset trading platforms, resulting in the conclusion that it is likely to be increasingly difficult for U.S. investors, including the Trust, to convert XRP into U.S. dollars, and therefore continue the Trust’s operations."

By Mary Liu