While everyone is waiting for the XRP Spot ETF approval, there is another positive development for XRP!

According to Fox Business reporter Eleanor Terrett, accredited investors will soon have a new way to be exposed to XRP without directly buying the coin.

In a recent statement, Terrett announced that XRP Deposit Receipts can be purchased through RDC and Digital Wealth Partners for (XRP. This structure is similar to American Depositary Receipts representing foreign company shares and allows investors to be exposed to an asset without directly trading on cryptocurrency exchanges.

Terrett, XRP DRs resemble ETFs traded on stock exchanges )ETFs( and announced that it offers an alternative for investors who want to access XRP through traditional finance )TradFi( channels. Receipts will be stored by Anchorage Digital, a federally authorized bank regulated by the Currency Controller's Office )OCC(.

Terrett said, “In short, another way to fill the gap between TradFi and DeFi.”

The release of XRP DRs can increase the institutional adoption of XRP by offering a regulatory compliant investment vehicle for companies and high net worth individuals. However, it is unknown whether the SEC will approve these applications for XRP Spot ETF under the new administration.