đ Grayscale $XRP Trust Set to End 2024 With Over 300% Gains
The Grayscale XRP Trust is set to end this year 2024 with a whopping 300% gain due to XRPâs impressive gains in November and December.
As 2024 draws to a close and the Christmas festivities enter full swing, crypto investors have many reasons to be cheerful. This is particularly true for institutional investors in XRP.
đ¸ Grayscale XRP Trust Investors See Massive Gains
Early investors in Grayscaleâs XRP Trust will likely be smiling to the bank this holiday. The product, which re-launched in September 2024, looks set to end the year with a share price gain of over 300% since inception, surging from $10.85 to $45.46 at the time of writing.
Interestingly, most of XRPâs gains that reflected in the XRP trust share price have come within the past month primarily due to Donald Trumpâs election victory, which has sparked a wave of pro-crypto sentiment amid promises made to the industry on the campaign trail.
đ¸ Chart showing Grayscale XRP Trust share price performance since inception Source Grayscale
At the same time, many believe that the regulatory cloud that has long shrouded the asset may be dissipating. For context, XRP has been at the center of an SEC lawsuit from 2020 alleging that Ripple, one of the projectâs primary developers, broke securities laws through its sale of the asset.
Following a partial court victory in July 2023 and the imminent change of the SEC guard, many are optimistic that the asset will continue to gain more clarity, so much so that it could soon get spot exchange-traded funds (ETFs) to broaden access for institutions, potentially leading to billions in capital inflow.
đ¸ Spot #XRP ETFs Coming Soon?
Recently, controversial crypto influencer Ben âBitboyâ Armstrong suggested that the gains recorded by Grayscaleâs XRP Trust could play a role in pushing XRP ETFs over the finish line soon. The view comes as the gains may bolster investor confidence in the asset, adding to the many factors driving the ETF push.