Leading XRP ETP Surpasses Major Milestone

An XRP ETP has topped $100 million in assets under management

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21Shares Ripple XRP ETP (AXRP) has now surpassed $100 million in assets under management (AUM).

The product, which was originally launched all the way back in April 2019, is fully backed by the XRP cryptocurrency.

Apart from 21Shares, XRP ETPs are also offered by such companies as 21Shares and CoinShares in Europe.

There are several pending spot XRP ETF proposals that could be approved by the SEC in the U.S.

As reported by U.Today, 21Shares joined the XRP ETF race in early November.

Earlier, Bitwise and Canary Capital also submitted their respective XRP ETF filings.

Ripple CEO Brad Garlinghouse has repeatedly predicted that an XRP ETF would be inevitably launched in the US. However, some experts believe that this is unlikely to happen in the short term.

The XRP cryptocurrency recently went on a wild rally amid expectations of a much looser regulatory policy in the U.S.

Persistent rumors about the imminent resignation of SEC Chair Gary Gensler have helped to push the token's price to the highest level since November 2021.

XRP is still up more than 80% over the past week despite giving up some gains.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].

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Leading XRP ETP Surpasses Major Milestone

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