XRP Trust refers to an investment vehicle that holds XRP, a digital asset created by Ripple. This trust allows accredited investors to gain exposure to XRP without needing to directly purchase or manage the asset themselves.Typically, XRP Trust is managed by a financial institution or a fund manager. Investors buy shares in the trust, which are backed by the actual XRP held in custody. This structure provides a level of convenience and regulatory clarity for those looking to invest in XRP while benefiting from professional management.In addition, it can simplify the tax implications since gains and losses may be handled differently than direct cryptocurrency transactions. The trust can also offer a way to invest in XRP through traditional investment accounts, making it more accessible for institutional investors and high-net-worth individuals. Overall, XRP Trust makes it easier for certain investors to participate in the XRP market while leveraging the expertise of financial managers.
Bit Digital Acquires 31,057 ETH Through $150M Convertible Notes Offering
Bit Digital Inc. (Nasdaq: BTBT) has purchased 31,057 Ether (ETH) using proceeds from its recently completed $150 million convertible notes