The first US-listed exchange-traded fund (ETF) to offer spot exposure to XRP has surpassed $100 million in assets under management (AUM) just one month after its launch, according to issuer REX-Osprey.
The ETF, REX-Osprey XRP ETF (XRPR), has seen rapid growth since its launch in September. It offers investors direct exposure to XRP, currently the fourth largest cryptocurrency by market cap.
Charging…
The timing of the milestone is significant. The US Securities and Exchange Commission (SEC) has delayed rulings on at least six other XRP spot ETF applications due to a slowdown caused by the federal government shutdown.
With approvals stalled, XRPR has become a de facto benchmark for gauging market interest in the cryptocurrency in the US. Meanwhile, the Hashed Nasdaq XRP (XRPH11), the world’s first
Meanwhile, institutional activity around XRP has continued to accelerate. CME Group recently added XRP options to its offering, following strong demand for its XRP futures.
The exchange reported that more than 567,000 futures contracts, representing $26.9 billion in nominal volume, have been traded since the launch of XRP and micro XRP futures in May.
Some companies are now positioning XRP as a strategic asset. Evernorth, a treasury startup that plans to list on Nasdaq, has committed to holding XRP as a primary reserve asset.
