{"id":79209,"date":"2026-10-08T00:06:08","date_gmt":"2026-10-08T00:06:08","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/grayscale-xrp-etf-adds-in-kind-transactions-and-new-custodian-bitcoin-news\/"},"modified":"2026-10-08T00:06:08","modified_gmt":"2026-10-08T00:06:08","slug":"grayscale-xrp-etf-adds-in-kind-transactions-and-new-custodian-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/grayscale-xrp-etf-adds-in-kind-transactions-and-new-custodian-bitcoin-news\/","title":{"rendered":"Grayscale XRP ETF Adds In-Kind Transactions and New Custodian \u2013 Bitcoin News"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Grayscale XRP ETF lets authorized firms exchange XRP directly for shares.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Anchorage adds XRP custody; Coinbase remains the primary custodian.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Cash remains an option for institutions creating or redeeming ETF shares.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>GXRP Opens Direct XRP Exchanges Alongside Cash<\/h2>\n<p>The Grayscale XRP Trust ETF (GXRP) expanded its institutional exchange options, an Oct. 5 filing with the U.S. Securities and Exchange Commission (SEC) disclosed. The digital asset manager\u2019s <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/2037427\/000119312526414361\/gxrp_424b3_s.custodian_i.htm\" target=\"_blank\" rel=\"noopener noreferrer\">new in-kind process<\/a> permits direct XRP delivery for creation and redemption. Separately, the trust added Anchorage Digital Bank N.A. as another custodian.<\/p>\n<p>The in-kind option became available Sept. 29 for authorized participants, financial firms allowed to exchange large blocks of ETF shares directly with the fund. Virtu Americas LLC and Macquarie Capital (USA) Inc. have agreements supporting both XRP and cash transactions. Under the XRP option, these firms or their representatives deliver XRP to the fund and receive newly created ETF shares. They can also return ETF shares and receive XRP in exchange.<\/p>\n<p>Grayscale Investments Sponsors, LLC serves as the fund\u2019s sponsor. The SEC filing states:<\/p>\n<blockquote>\n<p>\u201cThe sponsor may engage additional authorized participants in the future, and such authorized participants may be able to conduct creations and redemptions in-kind, in cash, or both.\u201d<\/p>\n<\/blockquote>\n<p>The changes apply to an existing product that gives individuals brokerage exposure without managing the underlying cryptocurrency. Grayscale <a href=\"https:\/\/www.globenewswire.com\/news-release\/2025\/11\/24\/3193558\/0\/en\/Grayscale-Investments-Launches-Grayscale-XRP-Trust-ETF-Ticker-GXRP-on-NYSE-Arca.html\" target=\"_blank\" rel=\"noopener noreferrer\">began trading GXRP on the NYSE Arca stock exchange<\/a> on Nov. 24, 2025, following a private offering for eligible investors in September 2024.<\/p>\n<h2>Direct XRP Delivery Offers Potential Trading Savings<\/h2>\n<p>Exchanging XRP directly for ETF shares reduces the fund\u2019s need to buy or sell tokens on the market, potentially lowering trading costs. Crypto asset manager Bitwise described <a href=\"https:\/\/bitwiseinvestments.com\/newsroom\/bitwises-bitcoin-and-ether-etps-to-offer-in-kind-creations-and-redemptions\" target=\"_blank\" rel=\"noopener noreferrer\">potential trading efficiencies from in-kind transactions<\/a> in a July 31, 2025, announcement. The firm identified possible cost savings and a smaller gap between the prices investors pay to buy ETF shares and receive when selling them.<\/p>\n<p>On July 29, 2025, the SEC allowed authorized firms to exchange bitcoin or ether directly for shares of covered ETFs, which previously required cash for those transactions. That change <a href=\"https:\/\/news.bitcoin.com\/bitcoin-etf\/blackrock-processes-5-billion-in-direct-bitcoin-to-etf-conversions\/\">opened the way for bitcoin-to-ETF conversions<\/a> at major issuers. Grayscale\u2019s filing describes a similar process for GXRP, using XRP as the asset exchanged for ETF shares.<\/p>\n<p>Financial firms address pricing gaps by creating shares when their market price exceeds the value of the XRP backing each share, after expenses, or redeeming them when the price falls below that value. Grayscale warns that limited participation risks impaired liquidity, meaning reduced ease of trading, and wider spreads.<\/p>\n<p>Authorized firms must submit requests to exchange XRP and ETF shares by 3:59:59 p.m. New York time. The exchange is completed one or two business days later, with the timing agreed upon when the request is submitted. The filing also warns that service disruptions could interrupt processing and that the fund\u2019s classification for U.S. tax purposes remains uncertain.<\/p>\n<h2>Anchorage Joins Coinbase in Safeguarding XRP<\/h2>\n<p>Anchorage became eligible to serve effective Oct. 5, with Grayscale intending to place part of the trust\u2019s XRP there. Coinbase Custody Trust Company remains the primary provider. Grayscale will determine the allocation between providers as part of risk management as the trust grows.<\/p>\n<p>GXRP represents one of the <a href=\"https:\/\/news.bitcoin.com\/crypto-news\/grayscale-makes-xrp-a-core-holding-in-new-crypto-model-portfolios\/\">largest allocations in Grayscale\u2019s new adviser model portfolios<\/a>. These portfolios suggest how financial advisers could divide investments among the firm\u2019s funds. As of Aug. 31, GXRP accounted for 11.92% of the Leaders portfolio and 26.11% of Next Gen, which excludes bitcoin.<\/p>\n<p>XRP, which Grayscale <a href=\"https:\/\/news.bitcoin.com\/grayscale-places-xrp-at-the-center-of-the-global-payments-narrative\/\">classified as a global payments asset<\/a>, is used to pay transaction fees on the XRP Ledger. Custodians safeguard the fund\u2019s tokens by protecting the private keys needed to transfer them. Anchorage requires multiple key pieces to be combined to authorize a transfer, reducing reliance on any single piece.<\/p>\n<p>This structure differs from <a href=\"https:\/\/www.bitcoin.com\/get-started\/money-fundamentals\/fundamentals\/a-quick-introduction-to-crypto\/\" target=\"_blank\" rel=\"noopener noreferrer\">holding and exchanging cryptocurrency directly<\/a>, with providers controlling the assets on the trust\u2019s behalf. Grayscale expects Anchorage\u2019s holdings and associated keys to remain in cold storage, meaning offline protection, while allowing temporary use of internet-connected wallets for settlement and expenses. The sponsor pays Anchorage\u2019s fees.<\/p>\n<p>The agreement requires commercial crime insurance or a fidelity bond to protect against loss of client assets in Anchorage\u2019s custody, with aggregate limits of at least $100 million. Coverage is shared across customers and is not guaranteed to cover all losses. Contractual liability limits further restrict recovery, potentially leaving some losses uninsured and uncompensated.<\/p>\n<div class=\"not-prose my-3 lg:my-4\">\n<div class=\"overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] hidden md:flex md:flex-row md:gap-3 lg:hidden\"><a aria-hidden=\"true\" tabindex=\"-1\" class=\"relative size-[150px] min-w-[150px] shrink-0 overflow-hidden rounded-[15px]\" href=\"https:\/\/news.bitcoin.com\/grayscale-launches-4-crypto-portfolios-for-financial-advisors\/\"><\/p>\n<div class=\"absolute left-2 top-2\"><img alt=\"Bitcoin.com News\" loading=\"lazy\" width=\"28\" height=\"28\" decoding=\"async\" data-nimg=\"1\" class=\"size-7\" style=\"color:transparent\" srcset=\"\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=32&amp;q=75 1x, \/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75 2x\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75\"\/><\/div>\n<p><\/a><\/div>\n<div class=\"overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] hidden lg:flex lg:flex-row lg:gap-4\"><a aria-hidden=\"true\" tabindex=\"-1\" class=\"relative size-[150px] min-w-[150px] shrink-0 overflow-hidden rounded-[15px]\" href=\"https:\/\/news.bitcoin.com\/grayscale-launches-4-crypto-portfolios-for-financial-advisors\/\"><img alt=\"Grayscale Launches 4 Crypto Portfolios for Financial Advisors\" loading=\"lazy\" decoding=\"async\" data-nimg=\"fill\" class=\"object-cover\" style=\"position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent\" sizes=\"150px\" srcset=\"\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fgrayscale-clarity-act-4-blockchain-networks-to-benefit-150x150.jpg&amp;w=32&amp;q=75 32w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fgrayscale-clarity-act-4-blockchain-networks-to-benefit-150x150.jpg&amp;w=48&amp;q=75 48w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fgrayscale-clarity-act-4-blockchain-networks-to-benefit-150x150.jpg&amp;w=64&amp;q=75 64w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fgrayscale-clarity-act-4-blockchain-networks-to-benefit-150x150.jpg&amp;w=128&amp;q=75 128w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fgrayscale-clarity-act-4-blockchain-networks-to-benefit-150x150.jpg&amp;w=256&amp;q=75 256w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fgrayscale-clarity-act-4-blockchain-networks-to-benefit-150x150.jpg&amp;w=384&amp;q=75 384w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fgrayscale-clarity-act-4-blockchain-networks-to-benefit-150x150.jpg&amp;w=640&amp;q=75 640w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fgrayscale-clarity-act-4-blockchain-networks-to-benefit-150x150.jpg&amp;w=828&amp;q=75 828w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fgrayscale-clarity-act-4-blockchain-networks-to-benefit-150x150.jpg&amp;w=1080&amp;q=75 1080w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fgrayscale-clarity-act-4-blockchain-networks-to-benefit-150x150.jpg&amp;w=1200&amp;q=75 1200w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fgrayscale-clarity-act-4-blockchain-networks-to-benefit-150x150.jpg&amp;w=1920&amp;q=75 1920w\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F09%2Fgrayscale-clarity-act-4-blockchain-networks-to-benefit-150x150.jpg&amp;w=1920&amp;q=75\"\/><\/p>\n<div class=\"absolute left-2 top-2\"><img alt=\"Bitcoin.com News\" loading=\"lazy\" width=\"28\" height=\"28\" decoding=\"async\" data-nimg=\"1\" class=\"size-7\" style=\"color:transparent\" srcset=\"\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=32&amp;q=75 1x, \/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75 2x\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75\"\/><\/div>\n<p><\/a><\/p>\n<div class=\"flex min-w-0 flex-1 flex-col justify-center gap-2\">\n<p class=\"m-0 line-clamp-2 text-base leading-[1.3] !text-[#67656E]\">Grayscale has launched four model portfolios that let financial advisors add diversified crypto exposure through exchange-traded products. The strategies standardize\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/featured\/grayscale-xrp-etf-adds-in-kind-transactions-and-new-custodian\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Grayscale XRP ETF lets authorized firms exchange XRP directly for shares. Anchorage adds XRP custody; Coinbase remains the primary custodian. Cash remains an option for institutions creating or redeeming ETF shares. GXRP Opens Direct XRP Exchanges Alongside Cash The Grayscale XRP Trust ETF (GXRP) expanded its [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":79210,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/79209"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=79209"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/79209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/79210"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=79209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=79209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=79209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}