The crypto industry was recently transformed into a nucleus of activity as Grayscale relaunched its first XRP Trust in the United States. Further, ETFSwap (ETFS), an ETF trading platform, announces the launch of a beta version of its platform amidst its ongoing presale event. Let’s discuss these developments in detail.
ETFSwap (ETFS) Gears For Beta Platform Launch
ETFSwap (ETFS) is a crypto ETF trading platform that facilitates the trading of tokenized ETFs on the blockchain. Unlike traditional ETFs, tokenized ETFs can be converted to other cryptocurrencies, and they will give traders on-chain exposure to all sorts of assets from various industries, including stocks, precious metals, and Grayscale XRP Trust. These traders will access tokenized ETFs on a Web3 marketplace with adequate liquidity and round-the-clock availability, allowing users to trade ETFs anytime.
The marketplace will also be built with a user-friendly API, enabling experts and newbies with little or no trading experience to make well-informed trading decisions. The ETFSwap (ETFS) team recently announced that phase 1 of its beta platform will be unveiled shortly after a thorough UI testing. The backend of phase 1 was robustly built, with the capacity to allow users to participate in staking and liquidity pool mechanisms and ETF swapping features.
The ETFSwap (ETFS) team intends to include AI-powered trading tools like ETF Screener and ETF tracker in phase 2 of the beta platform. As anticipation continues to build around the beta platform launch, several investors have pitched their tents with ETFSwap (ETFS) by joining its ongoing presale, where the platform offers its native token ETFS at a low price of $0.03846.
As the platform native, token ETFS will serve various purposes, but the most important of its functions is to allow all users to gain access to all the features and functionalities of the platform, including trading tokenized ETFs. Further, ETFS enables token holders to participate in the network governance and stake their tokens for profits. In addition, users who stake their tokens will be eligible to earn a reward from ETFSwap (ETFS) 5% sell tax and trading fees.
Is It Safe To Buy Grayscale XRP Trust?
Amid uncertainties in the ongoing legal battle between the US SEC and Ripple (XRP), Grayscale, one of the pioneers offering Spot Bitcoin ETFs, has relaunched its XRP Trust in the United States. Grayscale XRP Trust will give investors direct exposure to XRP, the native token of Ripple (XRP), a blockchain-based cross-border payment network in the United States.
The Grayscale XRP Trust launch sparked mixed reactions among crypto community members, including analysts, as the US SEC window to appeal the recent court decision will open on October 7, 2024. While some like Jeremy Hogan are optimistic that Ripple (XRP) has the upper hand and that the US SEC has only a slim 10% chance of overturning the court decision, others believe that simply filing the appeal could have a major impact on the crypto market.
Nevertheless, in an English crypto podcast, Arizona-based attorney Fred Rispoli stated that the SEC’s appeal is not something to worry about; the focus should be on the confidence of businesses willing to use Ripple (XRP). Rispoli backed this up by using Grayscale as an example, stating that Grayscale built up confidence after battling with the US SEC to launch Bitcoin ETFs.
Fred also included that, like Grayscale XRP Trust, if Ripple (XRP) users are confident, they would move forward with the XRP ledger (XRPL) regardless of US SEC’s impending appeal. However, he reiterated all that is left is for Ripple (XRP) to get to work and deliver on all the services, which they claimed was hindered by the legal battle. According to CoinGecko, Ripple (XRP) trades around $0.589 and ranks 7th in the crypto market.
Conclusion
As Grayscale made the bold move of relaunching its XRP Trust, ETFSwap (ETFS) is also leaning towards launching phase 1 of its beta platform soon. Experts anticipate a surge in value for ETFS immediately after the launch of phase 1 of its beta platform, prompting many, including Ripple (XRP) investors, to rush now and buy ETFS at presale. So what are you waiting for? Seize this opportunity and buy ETFS without delay today!
For more information about the ETFS Presale:
