The Grayscale $XRP Trust ETF collateral was valued at approximately $1.01 million.
The document also lists approximately $3.06 million worth of Canary $XRP ETF shares and another roughly $702,000 in Franklin $XRP ETF collateral.
The three reported positions would amount to nearly $4.8 million worth of $XRP ETF shares being used as collateral.
The filing does not necessarily mean that Schwab’s money market fund actually bought the $XRP ETFs. Form N-MFP3 disclosures can identify securities posted as collateral. Thus, the filing actually means that $XRP ETF shares entered institutional collateral arrangements.
More institutional filings
More and more investment advisers and other financial firms are gaining exposure to $XRP-linked exchange-traded products (as recent filings indicate).
For instance, Clear Creek Financial Management disclosed 11,621 shares of the Bitwise $XRP ETF for the quarter ending June 30.
Leisure Capital Management is also among the firms that have secured $XRP exposure. The investment manager reported 16,745 shares of the Franklin $XRP ETF in its second-quarter Form 13F.
Beacon Pointe Advisors, meanwhile, filed its second-quarter 13F with the SEC on Aug. 18.
Brookstone Capital Management has also appeared among firms reporting $XRP-linked ETF exposure.
The individual positions remain relatively modest for large asset managers. Still, their appearance across multiple filings show that $XRP ETFs are gaining more traction.
However, the $XRP token remains under pressure. It is currently down 60% from its record high.
