🔥🔥🔥 #Grayscale $XRP Trust Set to End 2024 With Over 300% Gains
Grayscale XRP Trust Surges 300% in 2024
- As 2024 comes to a close, Grayscale's XRP Trust has delivered remarkable returns for investors, posting a staggering 300% gain. XRP’s strong performance in November and December has fueled this surge, making it a standout in the crypto space during the festive season.
Institutional Investors Reap Big Gains
- Grayscale’s XRP Trust, re-launched in September 2024, has seen its share price skyrocket from $10.85 to $45.46. Much of this growth is attributed to renewed pro-crypto sentiment sparked by Donald Trump’s election victory, which has reignited optimism across the industry.
Regulatory Clarity on the Horizon
- XRP’s price momentum also reflects optimism surrounding regulatory developments. The ongoing SEC lawsuit, initiated in 2020, has been a significant hurdle. However, a partial victory in July 2023 and potential changes at the SEC helm are driving hopes for further clarity. This optimism could pave the way for XRP’s inclusion in spot exchange-traded funds (ETFs), potentially unlocking billions in institutional investment.
Spot XRP ETFs: A Game-Changer?
- The exceptional gains by Grayscale’s XRP Trust have bolstered confidence in XRP, with many believing it could accelerate the approval of spot XRP ETFs. Influencer Ben “Bitboy” Armstrong recently highlighted this, pointing to growing investor interest and the push by multiple asset managers to launch these ETFs.
- Currently, four firms—Canary Capital, 21Shares, Bitwise, and WisdomTree—are vying to launch spot XRP ETFs. With the latest application filed in November 2024, the earliest approval could arrive by July 2025, aligning with the SEC’s standard review timeline.
- Grayscale’s XRP Trust is not only rewarding its investors but also setting the stage for a transformative 2025, where broader institutional adoption could redefine XRP’s market trajectory.
