(Bloomberg) -- Crypto asset manager Grayscale Investments said it has begun to offer the Grayscale XRP Trust, helping to send the price of the seventh-largest digital asset up by almost 10%.

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The trust aims to provide investors the opportunity to gain exposure to the token that powers the XRP Ledger, a distributed, peer-to-peer network created to facilitate cross-border financial transactions, Grayscale said in a statement Thursday. The investment product is is available to eligible individual and institutional accredited investors.

Trusts are closed-end investments, meaning that there is a fixed number of shares available. The number of shares can vary in exchange traded funds, usually making those investment products more tradable.

XRP rose as much as 9.8% to around 59 cents, and is down around 8% this year. The token has an estimated market value of around $32 billion, according to CoinMarketCap data.

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