The first U.S.-listed exchange-traded fund (ETF) providing set up publicity to XRP has surpassed $100 million in resources below management (AUM) only one month after its commence, per issuer REX-Osprey.
The ETF, the REX-Osprey XRP ETF (XRPR), has skilled hasty enhance since its commence in September. It affords investors tell publicity to XRP, currently the fourth-greatest cryptocurrency by market capitalization.
The timing of the milestone is necessary. The U.S. Securities and Replace Fee (SEC) has delayed rulings on as a minimal six other set up XRP ETF capabilities over a slowdown precipitated by the federal executive shutdown.
With approvals stalled, XRPR has emerged as a de facto benchmark for gauging market ardour in the cryptocurrency in the U.S. Within the intervening time, the Hashed Nasdaq XRP (XRPH11), the sector’s first set up XRP ETF, has amassed 282 million dependable (spherical $52 million) in total resources.
Within the intervening time, institutional notify spherical XRP has persisted to recede. CME Neighborhood honest lately added XRP alternate suggestions to its offerings, following solid interrogate for its XRP futures.
The exchange reported that over 567,000 futures contracts were traded, representing $26.9 billion in notional volume, since launching XRP and micro XRP futures in Might possibly also.
Some companies are now positioning XRP as a strategic asset. Evernorth, a brand fresh treasury company with plans to list on Nasdaq, has dedicated to retaining XRP as a core reserve asset.
