The first US-listed exchange-traded fund (ETF) to offer spot exposure to XRP has surpassed $100 million in assets under management (AUM) just a month after 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 a direct investment in 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 delayed decisions on at least six other spot XRP ETF applications due to the slowdown caused by the federal government shutdown.
With the approval halving, XRPR has emerged as a de facto benchmark to measure market interest in cryptocurrencies in the US. Meanwhile, the world’s number one XRP ETF, Hashed Nasdaq XRP (XRPH11), has amassed 282 million reais (about $52 million) in total assets.
Meanwhile, institutional activity around XRP has continued to be bullish. CME Group recently added XRP options to its offerings following strong demand for its XRP futures.
The exchange reported that more than 567,000 futures contracts were traded since launching XRP and Micro XRP futures in May, representing $26.9 billion in estimated volume.
Some companies are now positioning XRP as a strategic asset. Evernorth, a new treasury company planning to list on the Nasdaq, has committed to holding XRP as its main reserve asset.