Amid the bullish season, Grayscale XRP ETF (Grayscale XRP Trust) has grown impressively, surging by over 218% since its inception. Over $11.4 million volume is currently locked in its assets under management (AUM).
The surge in the ETF volume also pumped XRP tokens by 60.82% in a month. At the time of publication, the cryptocurrency is trading at around $2.16 after crashing from its yearly peak at $2.71.
(Source: Grayscale)
In a monthly span, Grayscale XRP Trust has witnessed an over 243% hike following the intense bullish momentum in the cryptocurrency. The excitement around the newly introduced stablecoin RLUSD has also boosted confidence in institutional investors.
Grayscale XRP ETF To Wind Up Year 2024 With 300% Mark
The Grayscale XRP Trust is expected to end 2024 with an extraordinary gain by crossing the 300% mark. As the year closes and the festive season takes over, institutional investors in XRP have ample reason to celebrate.
Since its re-launch in September 2024, the XRP Trust has seen its share price skyrocket from $10.85 to $45.46. Most of this growth has been seen after Donald Trump’s remarkable victory.
Under Trump’s administration, the crypto community expects a formation of pro-crypto policy that will help the cryptocurrency space to thrive, including the creation of Bitcoin’s strategic reserve.
Another major factor behind XRP’s impressive performance is the dissipating regulatory uncertainty around XRP. Since Ripple’s partial court victory over an SEC, the optimism has grown.
Also, with an anticipated leadership change at the SEC as the present chairman resigned from his position, many believe XRP could soon gain clarity and potentially secure approval for spot exchange-traded funds (ETFs).
Also Read: Ethereum, XRP & Other Altcoins Poised For Major Rally as BTC Consolidates
Source: https://www.cryptonewsz.com/grayscale-xrp-etf-soars-218-3-soon/