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Grayscale’s XRP Trust net asset value rises by 11.44% in the first week

Sep 19, 2024
  1. Growth of Grayscale's XRP Trust NAV
  2. Comparison with other Grayscale Trusts

Grayscale launched its XRP Trust last week, and its net asset value has shown significant growth in its first week.

Growth of Grayscale's XRP Trust NAV

Following the official announcement of the XRP Trust launch on September 12, 2023, the NAV of this trust has increased significantly. As of September 17, 2023, the NAV reached $11.77 per share, which is 11.44% higher compared to the initial $10.31 per share on September 6, 2023. The current trust value stands at $11.49 per share, slightly below the previous peak.

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, Grayscale’s Head of Product & Research

Comparison with other Grayscale Trusts

While XRP Trust shows strong performance, other trusts like NEAR and Avalanche exhibit declines in their asset values. NEAR Trust fell by 0.97%, while Avalanche Trust recorded a 1.68% drop in the last 24 hours. However, the SUI Trust shows an 8% increase over the same period.

The initial launch of Grayscale's XRP Trust has yielded a significant NAV increase within its first week. However, the results of other trusts remain mixed, highlighting the diverse outcomes within current market conditions.

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