The Grayscale XRP Trust is set to end 2024 with a massive 300% gain, thanks to XRP’s impressive performance in November and December. Institutional investors who have invested in this trust are likely to see significant profits as the share price has surged from $10.85 to $45.46 since its relaunch in September 2024. The recent gains in XRP can be attributed to Donald Trump’s election victory, which has brought a wave of pro-crypto sentiment to the market.
The regulatory uncertainty surrounding XRP seems to be clearing up, with the asset no longer under the shadow of an SEC lawsuit that has been ongoing since 2020. With a partial court victory in July 2023 and a change in the SEC leadership on the horizon, investors are hopeful that XRP will gain more clarity in the near future. This could potentially lead to the introduction of spot exchange-traded funds (ETFs) for XRP, allowing institutions to invest billions in capital into the asset.
Crypto influencer Ben “Bitboy” Armstrong has suggested that the gains seen in Grayscale’s XRP Trust could be a catalyst for the approval of XRP ETFs. Several asset managers, including Canary Capital, 21Shares, Bitwise, and WisdomTree, have expressed interest in launching spot XRP ETFs. The most recent ETF application was submitted in November 2024, and if approved, XRP holders could see ETFs available by July 2025. The SEC typically takes 240 days to respond to such applications, so investors are eagerly awaiting a decision.
Overall, the outlook for XRP in 2024 looks promising, with significant gains expected for investors in the Grayscale XRP Trust. The positive momentum in XRP’s price, coupled with the potential for regulatory clarity and the introduction of spot ETFs, has created a favorable environment for institutional investors looking to diversify their portfolios. As the year comes to a close, XRP investors have many reasons to be optimistic about the future of this digital asset.
