The first U.S. exchange-traded fund (ETF) offering spot exposure to XRP has surpassed $100 million in assets under management (AUM) in just one month since its launch, according to publisher REX-Osprey.
The ETF REX-Osprey XRP ETF (XRPR) has experienced rapid growth since its launch in September. This provides investors with direct exposure to XRP, which is currently the fourth largest cryptocurrency by market capitalization.
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The timing of milestones is important. The U.S. Securities and Exchange Commission (SEC) has postponed rulings on at least six other spot XRP ETF applications, citing the economic slowdown caused by the federal government shutdown.
Amid approval delays, XRPR has emerged as the de facto benchmark for gauging market interest in cryptocurrencies in the US, while the world’s first spot XRP ETF, Hashed Nasdaq XRP (XRPH11), has total assets of R$282 million (approximately $52 million).
Meanwhile, institutional activities surrounding XRP continue to accelerate. CME Group recently added XRP options to its products following strong demand for XRP futures.
The exchange reported that since launching XRP and micro-XRP futures in May, more than 567,000 futures contracts have been traded, valued at $26.9 billion in notional value.
Some companies are now positioning XRP as a strategic asset. Evernorth, a start-up financial company that plans to list on the Nasdaq, has committed to holding XRP as a core reserve asset.
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