As 2024 draws to a close, the Grayscale XRP Trust has captured the attention of cryptocurrency investors worldwide. Demonstrating exceptional performance during November and December, this investment product is on track to conclude the year with an astounding over 300% growth. This remarkable surge represents a defining moment for XRP, particularly in the final months of the year, driven by significant developments in regulatory frameworks and political landscapes.
Grayscale XRP Trust’s Record 300% Gain
Since its relaunch in September 2024, the Grayscale XRP Trust has witnessed a dramatic ascent in its share price, captivating investors. Beginning at $10.85 per share, it has skyrocketed to $45.46, providing substantial returns for early investors. This impressive growth is closely linked to XRP’s late-year rally, heavily influenced by Donald Trump’s pro-crypto stance following his election victory.
Donald Trump’s election victory has become a pivotal driver for this surge, as his promises to bolster the cryptocurrency industry have reignited enthusiasm among investors. This renewed confidence has spurred a bullish run for XRP, turning the asset into a focal point of interest. Additionally, many believe that ongoing regulatory uncertainties surrounding XRP are beginning to dissipate. The asset has been embroiled in a legal battle with the SEC, with positive developments such as a partial court victory in July 2023 boosting investor confidence in XRP’s future potential.
XRP Regulatory Clarity and ETF Hopes
Amid the evolving landscape, the prospect of greater regulatory clarity for XRP is sparking excitement among investors and analysts alike. Speculation is rife that XRP could soon secure spot exchange-traded funds (ETFs), which would significantly enhance its accessibility to institutional investors. Analysts suggest that the approval of XRP ETFs could attract significant investment, potentially amounting to billions of dollars, thereby solidifying XRP’s position in the market.
The Push for XRP ETFs
The remarkable performance of the Grayscale XRP Trust has ignited discussions regarding the potential for spot XRP ETFs. Prominent crypto influencer Ben Armstrong, also known as Bitboy, has highlighted the 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 remains optimistic about a favorable outcome. If these ETFs receive approval, they could unlock new avenues for institutional participation in XRP, further driving its growth and adoption.
