The post Grayscale XRP Trust Sees 300% Growth in 2024: What’s Driving the Surge? appeared first on Coinpedia Fintech News
The Grayscale XRP Trust has emerged as a major highlight for cryptocurrency investors as the year 2024 comes to a close. With remarkable gains in November and December, this investment product is on track to end the year with over 300% growth. This year has been a game-changer for XRP, particularly in the final months, fueled by key developments in regulatory and political change.
Grayscale XRP Trust’s Recored 300% Gain
Since its relaunch in September 2024, the Grayscale XRP Trust has captured attention with a dramatic rise in its share price. The trust started at $10.85 per share and has soared to $45.46, marking a significant return for early investors.
Much of this growth is tied to XRP’s late-year rally, heavily influenced by Donald Trump’s pro-crypto sentiment following his election victory.
A key driver of this surge is the pro-crypto wave triggered by Donald Trump’s election victory. His promises to support the crypto industry have reignited enthusiasm among investors, resulting in a bullish run for XRP.
Additionally, many believe that the ongoing regulatory uncertainties around XRP are beginning to clear. The asset, long embroiled in a legal battle with the SEC, has seen positive developments, including a partial court victory in July 2023. These factors have boosted investor confidence in XRP’s potential.
XRP Regulatory Clarity and ETF Hopes
The possibility of greater regulatory clarity for XRP is also sparking excitement. There is growing speculation that XRP could soon secure spot exchange-traded funds (ETFs), making them more accessible to institutional investors.
Analysts suggest that the approval of XRP ETFs could attract billions of dollars in investment, further solidifying the asset’s position in the market.
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The Push for XRP ETFs
The outstanding performance of the Grayscale XRP Trust has sparked discussions about the possibility of spotting XRP ETFs. Prominent crypto influencer Ben Armstrong, also known as Bitboy, recently highlighted the Grayscale XRP Trust’s impressive gains as a catalyst for accelerating ETF approvals.
With several asset managers, including Canary Capital and Bitwise, filing applications for spot XRP ETFs, the industry is optimistic about a favorable outcome. If approved, these ETFs could open new doors for institutional participation in XRP.
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FAQs
An XRP Trust, like Grayscale’s, holds XRP assets, allowing investors to gain exposure without directly owning the cryptocurrency.
Yes, you can invest in the Grayscale XRP Trust via brokerage platforms, gaining exposure to XRP without directly purchasing the token.
