The first US-listed exchange-traded fund (ETF) offering 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 seen rapid growth since its launch in September. It provides investors with direct exposure to XRP, currently the fourth largest cryptocurrency by market capitalization.
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The timing of this step is important. The U.S. Securities and Exchange Commission (SEC) has delayed its decisions on at least six other spot XRP ETF applications due to a slowdown triggered by the federal government shutdown.
With approvals stalled, XRPR has become a de facto benchmark for gauging market interest in cryptocurrency in the United States. Meanwhile, Hashed Nasdaq
Meanwhile, institutional activity around XRP has continued to accelerate. CME Group recently added XRP options to its offerings, following strong demand for its XRP futures contracts.
The exchange reported that 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 that plans to list on Nasdaq, has committed to holding XRP as its base reserve asset.
