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Crypto

Grayscale GXRP XRP ETF adds in-kind creation and redemption

Grayscale\'s spot XRP exchange-traded fund, GXRP, will support in-kind creation and redemption that allow XRP to be deposited and withdrawn directly. Grayscale disclosed the operational change through amended registration materials and filings with the U.S. Securities and Exchange Commission. The ETF had previously processed cash orders only. The update follows contracts signed on Sept. 29 and revisions to agreements with Macquarie Capital USA and Virtu Americas. Grayscale also added Anchorage Digital Bank as a custodian.

Crypto

Former CFTC commissioner\'s visit to Ripple headquarters stirs XRP community

Moves to broaden institutional investment around XRP are continuing. Evernode Holdings, which holds a large amount of XRP, is set to begin trading on Nasdaq under the ticker XRPN after shareholder approval of its merger with Armada Acquisition Corp II. MoonPay executive Caroline Pham posted a selfie at Ripple’s office, prompting speculation among XRP supporters and scepticism from others. Market talk has focused on possible cooperation, but no official announcement has been made.

Crypto

Circle launches bitcoin-collateral loans for institutions to raise USDC without selling BTC

Circle has started a USDC loan service for institutional clients backed by bitcoin. Eligible Circle Mint customers can deposit bitcoin, mint Circle’s wrapped bitcoin token cirBTC and use it as collateral in supported on-chain lending markets to borrow USDC, which is credited to their Circle Mint balance. Terms are set by external markets, and New York-area clients are excluded. The launch coincides with the Arc layer-1 mainnet release.