Grayscale XRP Trust to Conclude in 2024, Yield Soars by 300%!
Hey, crypto friends, the Grayscale XRP Trust is set to wrap up in 2024, and the returns are quite impressive, skyrocketing by 300%!
As 2024 is coming to an end and Christmas is getting lively, we cryptocurrency investors are feeling pretty good. Especially those institutional big shots who invested in XRP are grinning from ear to ear.
Speaking of which, the early birds of the Grayscale XRP Trust will be celebrating a big red envelope this Christmas. This trust just resumed in September, and from the beginning of the year until now, the returns have more than tripled, shooting up from $10.85 all the way to $45.46!
Even more incredible is that this huge chunk of profit has all been earned in the last month. Why? It’s all thanks to Trump's election victory, giving a boost to the cryptocurrency market, stating that he wants to support the development of this industry. As a result, XRP has also benefited from it.
Have you all noticed that the regulatory stigma hanging over XRP seems to be lifting? Since 2020, XRP has been under the scrutiny of the U.S. Securities and Exchange Commission, which claimed Ripple was illegally selling this asset. However, last July they won a court battle, and now everyone is hoping that this asset can be increasingly cleared of any wrongdoing, allowing spot trading exchange funds (ETFs) to open their doors and attract a large influx of capital.
Speaking of which, there's a controversial figure, Bitcoin boy Armstrong, who also believes that the returns from the Grayscale XRP Trust could help push the XRP ETF across the finish line. These returns can instill confidence in investors and promote the advancement of ETFs.
Currently, several asset management companies are planning to launch XRP spot ETFs, such as Canary Capital, 21Shares, Bitwise, and WisdomTree. However, XRP holders will need to be patient; the earliest the ETF applications might be approved is July 2025, as the U.S. Securities and Exchange Commission needs to review them for 240 days.
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