- Grayscale updates XRP Trust pricing, adding new exchanges, removing Bitfinex.
- Major changes to XRP Trust’s valuation impact investor behavior significantly.
- New stablecoin data improves transparency and accuracy in XRP Trust.
Grayscale has made a notable adjustment to its XRP Trust ETF, sparking interest across the XRP community. According to a post by Diana on X, the firm filed a Form 8-K with the SEC, revealing a key update to how XRP’s price is calculated within the product.
Effective January 20, 2026, the CoinDesk XRP Benchmark, which determines the trust’s net asset value (NAV) on NYSE Arca, has been revised. This update involves adding new trading venues—Binance, Gate, and HashKey—while removing Bitfinex from the list of exchanges used for calculating XRP’s price. These changes are expected to have a direct impact on how the trust’s shares are valued daily.
Diana highlighted that the new exchanges contributing to the benchmark—Binance (XRP–USDC), Gate (XRP–USDC), and HashKey (XRP–USD)—will now play a significant role in determining the trust’s NAV, replacing Bitfinex, which was previously included. The move aims to improve the pricing mechanism for Grayscale’s XRP Trust, influencing market sentiment and investor behavior.
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Implications for the XRP Market
This update reflects Grayscale’s effort to diversify the data sources used for determining XRP’s market price, offering a more comprehensive view of the digital asset. The addition of Binance and Gate, along with HashKey, ensures that the XRP Trust’s NAV accounts for a wider variety of trading platforms. The inclusion of stablecoin pairs, particularly XRP-USDC, signals the growing influence of stablecoins in digital asset pricing, potentially improving the accuracy of the trust’s valuation.
By removing Bitfinex, Grayscale appears to be refining its pricing strategy, focusing on exchanges with higher liquidity and more consistent trading activity. This move is likely to enhance the trust’s appeal to institutional investors, who prioritize data reliability and transparency.
Enhancing Trust in XRP’s Valuation
The inclusion of major exchanges and stablecoin data is a strategic shift that will likely enhance the transparency and precision of the XRP Trust’s valuation. Grayscale’s approach reflects the changing landscape of cryptocurrency trading, positioning the XRP Trust to better align with current market practices and increase investor confidence.
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