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REX-Osprey XRP ETF: Over $100 million reached in record time!
REX-Osprey XRP ETF Reaches Over $100 Million in Assets Under Management in Just Five Weeks Amid SEC Filings Delayed.
REX-Osprey XRP ETF: Over $100 million reached in record time!
The REX-Osprey XRP ETF (XRPR) has reached a significant milestone by achieving more than $100 million in assets under management in just five weeks. This makes XRPR the first ETF in the US to offer direct access to XRP. The fund was launched five weeks ago and has established itself as an agile investment option for investors.
XRP, the digital currency, is at the center of this novel investment product. The ETF was built under a '40 Act structure that allows it to hold at least 80% of its assets in actual XRP. Additionally, the Fund invests in U.S. Treasury securities, cash equivalents and limited derivatives to ensure tax compliance.
Market development and trading placements
The XRPR ETF is traded on major trading platforms and originally started at a price of $25.82. The price is currently around $20.65, having recently risen by 3.82%. The significant increase in assets under management comes at a time when the SEC is facing delays in six other XRP ETF applications. These circumstances allow XRPR to play an important role as a gap filler in the market and offer investors an immediate investment option.
In broader context, CME Group's futures-based XRP products, which have been trading since their launch five months ago, have reached an impressive $26.9 billion in volume. This represents approximately 9 billion XRP and shows investors' strong interest and confidence in XRP as an increasingly relevant asset class.
In conclusion, the XRPR ETF not only shows a rapid increase in assets under management but also remains operational in a difficult regulatory environment. The continued popularity of XRP and its associated trading products may indicate that further growth is to be expected in this sector. The dynamics surrounding this ETF could also significantly influence the discussion about future coffee grounds markets and the regulatory landscape of cryptocurrencies.
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