coindesk.com
The first U.S.-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 experienced rapid growth since its launch in September. It offers investors direct exposure to $XRP, currently the fourth-largest cryptocurrency by market capitalization.
The timing of the milestone is significant. The U.S. Securities and Exchange Commission (SEC) has delayed rulings on at least six other spot $XRP ETF applications over a slowdown triggered by the federal government shutdown.
With approvals stalled, XRPR has emerged as a de facto benchmark for gauging market interest in the cryptocurrency in the U.S. Meanwhile, the Hashed Nasdaq $XRP (XRPH11), the world’s first spot $XRP ETF, has accumulated 282 million real (around $52 million) in total assets.
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.
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 May.
Some firms are now positioning $XRP as a strategic asset. Evernorth, a new treasury company with plans to list on Nasdaq, has committed to holding $XRP as a core reserve asset.