Grayscales XRP Trust Shows Strong Institutional Interest with 11.44% NAV Growth
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In a tremendous show of institutional confidence, Grayscales XRP Trust has achieved an 11.44% NAV growth since its launch, which highlights increasing institutional interest in XRP.
In a recent X post, the well-known crypto pundit, Crypto Moses noted that XRP Trust Performance Rises! Grayscales XRP Trust NAV hits $11.77, signaling strong momentum. the users who commented on this post also agreed with it. One of the users shared that this indicates growing institutional interest, suggesting the potential for further gains if market conditions remain favorable.
Grayscales XRP Trust Continues To Attracting Institutional Interest
As of September 17, 2024, the trust NAV per share reached $11.77, which marked a significant milestone. Although the value dipped to $11.49 by the end of the trading on September 18, the overall growth trend remains strong. This development in such a short period implies that it is attracting a significant amount of institutional interest.
Besides, Grayscales decision to reopen private placement offerings for XRP and other cryptocurrency trusts is anticipated to further fuel institutional investment. This development now allows the Accredited investors to subscribe the shares of 18 key cryptocurrency trusts, including XRP.
XRP Trust Maintains Momentum
The XRP Trust maintained the momentum, as it reached $11.77 on Tuesday, September 17. However, at the end of trading yesterday, the value dropped to $11.49. According to Grayscales data, the XRP Trusts NAV per share one-day percentage change is a negative 2.38%.
Although the performance dropped as if Wednesday, the current value has signifcantly improved from the last weeks figure. Notably, the growth from $10.31 to the current $11.49 represents an 11.44% increase.
Grayscale SUI Trusts Remarkable Performance
Notably, the Grayscale SUI Trust has shown a remarkable 24-hour increase in NAV per share of 7.85%, while XRP has experienced a 2.38% decrease during the same period.
This could be explained by the fact that XRPs value briefly dipped to just around $0.56 yesterday before recovering to $0.585, on the other hand, SUIs market price is up by over 13% today.
Text source: Coinpedia – Fintech & Cryptocurreny News Media| Cr
