Grayscale’s XRP Trust net asset value is up 11.44% just a week since its official launch. On September 17, the trust reached a remarkable high of $11.77 NAV per share. Although there was a slight dip today, with the value adjusting to around $11.49, the overall trend remains positive as investors continue to show strong interest.
Grayscale’s XRP Trust sees impressive NAV per share performance
Grayscale formally announced the release of its XRP Trust on September 12. Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary, remarked:
We believe Grayscale XRP Trust gives investors exposure to a protocol with an important real-world use case. By facilitating cross-border payments that take just seconds to complete, XRP has the potential to transform the legacy financial infrastructure.
~Rayhaneh Sharif-Askary
However, before the official company announcement, Grayscale’s XRP Trust performance stood at a low of $10.31 NAV per share on September 6 before rising to $10.81 on September 10 and $11.25 on September 12.
The trust’s net asset value performance continued to appreciate and finally hit a high of $11.77 NAV per share on Tuesday, which invited multiple commentaries and support. Crypto analyst CryptoMoses reported in an X post on the high NAV, saying it hinted at “strong momentum.” Another user on X said the surge was a ‘promising sign for investors, ’ highlighting heightened institutional interest.
As of September 18, Grayscale’s XRP Trust was at $11.49 NAV per share, a slight 2.38% drop from its high. However, this culminated in an 11.44% surge from its September 6th performance.
The value performance of Grayscale’s NEAR and Avalanche Trusts plummets
While Grayscale only started its XRP trust last week, the asset manager has launched other trusts dedicated to different tokens, including NEAR and Avalanche Token.
The Grayscale NEAR Trust, which launched on May 23, has its value down to $6.12 on September 18, representing a 0.97% slump from its September 17th performance. Moreover, the trust performance has seen even more declines in the month, dropping to as low as $5.29 on September 6.
Grayscale’s Avalanche Trust net value is also down, recording a 1.68% drop in the last 24 hours. The trust stands at $11.72 NAV per share with $1,025,217.09 AVAX assets under management. From its high of $13.34 on August 23, the current NAV per share represents another 12% drop.
However, the company’s SUI Trust performance is on an uptick. In just 24 hours, its NAV per share rose almost 8%, surpassing the XRP trust performance in the same period.
Source: https://www.cryptopolitan.com/grayscales-xrp-trust-achieves-11-44-nav/