- Grayscale’s XRP Trust reintroduction signals growing institutional interest in $XRP.
- The trust offers accredited investors unique access to crypto via net asset value shares.
- XRP Trust’s NAV rose 11.44% in a week, reflecting positive market momentum for $XRP.
Grayscale has brought back its XRP Trust, giving accredited investors an attractive way to gain exposure to $XRP. XRP on the XRP Ledger, has gained much recognition lately for cross-border payments.
With the launch of the U.S. XRP Trust, Grayscale is vying for a potential XRP ETF, to add to its suite of investment products. This move fits with Grayscale’s larger goal to expand options for accredited investors in the ever-changing cryptocurrency market.
Growing Institutional Demand
On September 15, via its X platform, Grayscale announced it has reopened private placements for 18 cryptocurrency trusts. This includes well-known tokens such as Avalanche, NEAR Protocol, Bitcoin Cash, and Solana, along with the XRP Trust.
Read also : XRP Price Surges on Grayscale Trust News, Ripple CEO Predicts Growth
Grayscale’s cryptocurrency trusts offer a unique investment model. Accredited investors can purchase shares at net asset value (NAV) rather than managing cryptocurrency directly. This model simplifies the investment process, allowing investors to participate in the crypto market while staying within a traditional investment framework. At present, the XRP Trust and eight other products are in a private placement phase. Investors must hold their shares for at least one year to adhere to regulatory standards.
XRP Trust Shows Positive Growth
Recent performance metrics show positive growth for the XRP Trust. As of September 18, its NAV per share increased to $11.49, up from a low of $10.31 on September 6. Data suggests that the trust currently manages assets valued at around $646.7 million. Each share represents 19.98 XRP. On September 17, the NAV per share for the XRP Trust peaked at $11.77 before settling at $11.49.
Read also : Hex Trust Integrates with XRP Ledger to Enhance Digital Asset Services
According to JackTheRippler, an analyst, the overall trend remains positive, with an 11.44% increase over the past week. This upward momentum indicates rising institutional interest, driven by Grayscale’s reopening of subscriptions for XRP and other cryptocurrency trusts.
As at press time, the live XRP price stands at $0.589725, accompanied by a 24-hour trading volume of over $1.3 billion. XRP has seen a modest 0.81% increase in the last day.
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