The crypto community was buzzing in excitement following Grayscale’s success in overturning the United States Securities and Exchange Commission’s (SEC) rejection of its Grayscale Bitcoin Trust (GBTC) application.
This ruling is expected to eventually bring about the approval of the much-anticipated Bitcoin exchange-traded fund (ETF). After this ground-breaking victory, a vital request, which is expected to be Grayscale’s next move, has popped up from the XRP community.
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Request of Relisting XRP Digital Large Fund
It is no longer news that things turned bad for XRP after the December 2020 SEC’s lawsuit against Ripple, the US-based cross-border payment firm, for allegedly selling the digital asset as an unregistered security.
Many major exchanges, including Coinbase, Kraken, and many other crypto-related firms dejected XRP, citing the significant class action lawsuit. In January 2021, Grayscale also followed the trend by delisting XRP. The crypto asset manager didn’t stop there. It subsequently dissolved its standalone XRP Trust, citing the unavailability of XRP trading on major exchanges in the United States.
However, there is a grand call from the XRP community for the restoration of the XRP Digital Large Fund by Grayscale since the court has certified the digital asset’s non-security status.
Recently, a supposed XRP community member, who congratulated Grayscale for the big win called for the return of XRP on Grayscale Digital Large Cap to allow a level playing field. This implies that there is no reason left for the crypto asset manager to keep XRP out.
@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.XRP ☀️ (@RizXRP) August 29, 2023
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As of now, it’s not certain if Grayscale will heed this call. However, there is still room for a reconsideration considering the rate XRP is being reconsidered for inclusion on major exchanges.
Meanwhile, XRP has been witnessing a notable surge in trading volume lately. In fact, this trading volume will be catalyzed if Grayscale takes a giant step to bring back XRP. But take this as a mere request as Grayscale has yet to signal any intention for XRP inclusion.
At the time of writing, XRP is trading at $0.5334, with a relatively 3% price upsurge in the last 24 hours, according to CoinMarketCap.
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