The first listed US exchange-traded fund (ETF) Offers 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, the Rex-Osprey XRP ETF (XRPR), has experienced rapid growth since its launch in September. It offers investors direct exposure to XRP, which is currently the fourth largest cryptocurrency by market capitalization.
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The timing of the milestone is significant. The US Securities and Exchange Commission (SEC) has delayed decisions on at least six other XRP ETF applications in a slowdown triggered by the federal government shutdown.
With approvals stalled, XRPR has emerged as a de facto benchmark for gauging market interest in cryptocurrency in the US meanwhile, the hashed Nasdaq XRP (XRPH11), the The first place in the world XRP ETFhas accumulated 282 million real (around $ 52 million) in total assets.
Meanwhile, institutional activity around XRP will continue to accelerate. CME Group recently Added XRP options of its offerings, following strong demand for XRP futures.
The exchange reported More than 567,000 futures contracts have been traded, representing $26.9 billion in notional volume, since the launch of XRP and Micro XRP futures in May.
Some companies are now positioning XRP as a strategic asset. Evernorth, a new Treasury company with plans to list on the Nasdaq, is committed to Holding XRP as a Core Reserve asset.
