Explore the significant growth and potential of Grayscale’s XRP Trust.
Grayscale’s XRP Trust Continues To Attract Institutional Interest
In a tremendous show of institutional confidence, Grayscale’s XRP Trust has achieved an 11.44% NAV growth since its launch, highlighting increasing institutional interest in XRP. As of September 17, 2024, the trust’s NAV per share reached $11.77, marking a significant milestone. Although the value dipped to $11.49 by the end of trading on September 18, the overall growth trend remains robust.
This development in such a short period implies that Grayscale’s XRP Trust is attracting a significant amount of institutional interest. Besides, Grayscale’s decision to reopen private placement offerings for XRP and other cryptocurrency trusts is anticipated to further fuel institutional investment. This development now allows accredited investors to subscribe to shares of 18 key cryptocurrency trusts, including XRP.
XRP Trust Maintains Momentum
The XRP Trust maintained its momentum as it reached $11.77 on Tuesday, September 17. However, by the end of trading yesterday, the value dropped to $11.49. According to Grayscale’s data, the XRP Trust’s NAV per share one-day percentage change showed a negative 2.38%.
Although the performance dropped as of Wednesday, the current value has significantly improved from last week’s figure. Notably, the growth from $10.31 to the current $11.49 represents an 11.44% increase. This demonstrates the strong performance and growing interest in XRP despite short-term fluctuations.
While the Grayscale SUI Trust has shown a remarkable 24-hour increase in NAV per share of 7.85%, XRP experienced a 2.38% decrease during the same period. This could be explained by the brief dip in XRP’s value to around $0.56 before recovering to $0.585. On the other hand, SUI’s market price increased by over 13% today.
