The Grayscale XRP Trust is closing out 2024 with a remarkable 300% gain. Thanks to XRP’s strong performance in November and December, early investors are enjoying significant returns.
Massive Gains for Grayscale XRP Trust Investors
Institutional investors in Grayscale’s XRP Trust are celebrating as the product’s share price skyrockets from $10.85 in September to $45.46 by year-end. This impressive surge follows XRP’s renewed momentum, largely attributed to a pro-crypto wave fueled by Donald Trump’s election victory.
Trump’s campaign promises to support the crypto industry have boosted investor confidence, contributing to XRP’s gains and the trust’s stellar performance.
Regulatory Clarity Could Fuel Future Growth
XRP has faced regulatory uncertainty since the SEC’s 2020 lawsuit against Ripple. However, a partial court victory in July 2023 and upcoming changes in SEC leadership have sparked optimism for clearer regulations.
This clarity could pave the way for new opportunities, including the potential approval of spot exchange-traded funds (ETFs). Experts predict these ETFs could drive billions in institutional capital into XRP, further bolstering its market presence.
XRP ETFs: A Game-Changer on the Horizon?
Crypto influencer Ben “Bitboy” Armstrong believes Grayscale XRP Trust’s performance could accelerate the approval of spot XRP ETFs. Investor confidence is growing, and several asset managers, including Canary Capital, 21Shares, Bitwise, and WisdomTree, have submitted applications for these ETFs.
The latest application was filed in November 2024, and the SEC has up to 240 days to decide. In a best-case scenario, XRP ETFs could hit the market by July 2025, potentially opening the doors to massive institutional investment.
