A Charles Schwab Family of Funds filing shows nearly $4.8 million worth of XRP ETF shares posted as collateral. The disclosure covers three separate XRP funds and comes as more advisers report XRP-linked ETF exposure in recent filings.
A newly surfaced regulatory filing from the Charles Schwab Family of Funds has put several XRP exchange-traded funds in an unusual institutional role. According to a Form N-MFP3 filed with the SEC on Sept. 8, the Schwab Prime Advantage Money Fund reported more than $1 million worth of shares in the Grayscale XRP Trust ETF as collateral, 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. Together, the three reported positions would amount to nearly $4.8 million worth of XRP ETF shares being used as collateral.
This filing does not necessarily mean Schwab's money market fund actually bought the XRP ETFs. Form N-MFP3 disclosures can identify securities posted as collateral, so the filing means XRP ETF shares entered institutional collateral arrangements.
More institutional filings surface
More investment advisers and financial firms are gaining exposure to XRP-linked exchange-traded products, as recent filings indicate. Clear Creek Financial Management disclosed 11,621 shares of the Bitwise XRP ETF for the quarter ending June 30, while Leisure Capital Management reported 16,745 shares of the Franklin XRP ETF in its second-quarter Form 13F.
Meanwhile, Beacon Pointe Advisors filed its second-quarter 13F with the SEC on Aug. 18, and Brookstone Capital Management has also appeared among firms reporting XRP-linked ETF exposure. The individual positions remain relatively modest for large asset managers, but their appearance across multiple filings shows that XRP ETFs are gaining more traction.
However, XRP remains under pressure, currently down 60% from its record high.
Source: U.Today
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