As ayscale XRP Trust has become a standout performer in the crypto currency market, with impressive returns in the final two months of the year propelling it towards a year-end gain of over 300%. The latter part of 2024 has been transformative for XRP, with significant advancements in regulatory and legislative frameworks driving its remarkable growth.
Grayscale’s XRP Trust Sees a Tripling of Value.
After being reintroduced in September 2024, the Grayscale XRP Trust has garnered interest due to a substantial increase in its share value. Initially priced at $10.85 per share, the trust has surged to $45.46, providing a noteworthy profit for those who invested early.
A significant portion of this expansion can be attributed to XRP’s surge in value towards the end of the year, which was largely driven by the positive attitude towards crypto currency expressed by Donald Trump after his.
A significant factor contributing to this upswing is the renewed interest in crypto currency sparked by Donald Trump’s presidential win. His vows to back the crypto sector have rekindled investor optimism, leading to a strong upward trend for XRP.
A growing number of people think that the regulatory fog surrounding XRP is starting to lift. Following a prolonged dispute with the SEC, the asset has recently experienced favorable outcomes, such as a significant court win in July 2023. This progress has increased investors’ faith in XRP’s prospects.
Clear Regulations for XRP and Optimism around ETF Approval
Increased regulatory certainty for XRP is generating optimism as well. There is a rising belief that XRP might soon be approved for spot exchange-traded funds (ETFs), which would enhance its appeal to institutional investors.
Experts predict that the green lighting of XRP exchange-traded funds (ETFs) could draw in massive inflows of capital, bolstering the asset’s market standing and cementing its influence in the financial landscape.
Advocating for XRP Exchange-Traded Funds
The remarkable success of the Grayscale XRP Trust has ignited speculation about the potential emergence of XRP exchange-traded funds (ETFs). Notably, crypto currency personality Ben Armstrong, aka Bit boy, has pointed to the trust’s exceptional returns as a key driver that could expedite the approval process for XRP ETFs.
Several asset managers, such as Canary Capital and Bitwise, have submitted applications for spot XRP ETFs, leading to positive expectations within the industry. If these ETFs are given the green light, it could pave the way for increased institutional involvement in XRP.
