Avalanche

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. 
<h3 class="wp-block-heading" id="span-style-font-weight-400-grayscale-s-xrp-trust-sees-impressive-nav-per-share-performance-span">Grayscale’s XRP Trust sees impressive NAV per share performance</h3> 
Grayscale formally announced the release of its XRP Trust on September 12. Grayscale’s Head of Product &amp; Research, Rayhaneh Sharif-Askary, remarked: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 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. <cite>~Rayhaneh Sharif-Askary</cite>
</blockquote> 
However, before the official <a href="https://www.globenewswire.com/news-release/2024/9/12/2945244/0/en/Grayscale-Investments-Launches-Grayscale-XRP-Trust.html" rel="nofollow noopener" target="_blank">company announcement</a>, Grayscale’s XRP Trust performance stood at a low of&nbsp; $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 <a href="https://x.com/realcryptomoses/status/1836426201696804903" rel="nofollow" target="_blank">X post</a>&nbsp;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, <a href="https://www.grayscale.com/crypto-products/grayscale-xrp-trust#stage1" rel="nofollow noopener" target="_blank">Grayscale’s XRP Trust</a> 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. 
<figure id="attachment_590030" aria-describedby="caption-attachment-590030" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="wp-image-590030 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2024/09/Grayscales-XRP-Trust-achieves-11.44-NAV-growth-amid-rising-institutional-interest.png" alt="Grayscale’s XRP Trust achieves 11.44% NAV growth amid rising institutional interest" width="1335" height="782" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/09/Grayscales-XRP-Trust-achieves-11.44-NAV-growth-amid-rising-institutional-interest.png 1335w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/Grayscales-XRP-Trust-achieves-11.44-NAV-growth-amid-rising-institutional-interest-300x176.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/Grayscales-XRP-Trust-achieves-11.44-NAV-growth-amid-rising-institutional-interest-1200x703.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/Grayscales-XRP-Trust-achieves-11.44-NAV-growth-amid-rising-institutional-interest-768x450.png 768w" sizes="(max-width: 1335px) 100vw, 1335px">
 <figcaption id="caption-attachment-590030" class="wp-caption-text">
 Source: Grayscale
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</figure> 
<h3 class="wp-block-heading" id="span-style-font-weight-400-the-value-performance-of-grayscale-s-near-and-avalanche-trusts-plummets-span">The value performance of Grayscale’s NEAR and Avalanche Trusts plummets</h3> 
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 <a href="https://www.grayscale.com/crypto-products/grayscale-near-trust" rel="nofollow noopener" target="_blank">Grayscale NEAR Trust</a>, 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.&nbsp; Moreover, the trust performance has seen even more declines in the month, dropping to as low as $5.29 on September 6. 
<a href="https://www.grayscale.com/crypto-products/grayscale-avalanche-trust" rel="nofollow noopener" target="_blank">Grayscale’s Avalanche Trust</a> 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.

Grayscale’s XRP Trust achieves 11.44% NAV growth amid rising institutional interest

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