Aviva Approval Lifts Institutional Ties for XRP, But Washington Drag Remains
The price of XRP remains stuck at $1.08 despite significant institutional tailwinds. This week saw major regulatory approval in Europe, where Aviva Investors gained permission to launch a tokenized share class on the XRP Ledger.
The Irish central bank's green light for this initiative is seen as a landmark moment, with Aviva overseeing roughly $350 billion in assets. The deal follows a digital-twin model, mirroring an existing fund that continues to be managed off-chain by BNY Mellon and Komainu.
This approval has the potential to ripple effects across the asset management industry, given Ireland's administration of approximately 5.4% of global fund assets. Meanwhile, US-listed XRP spot ETFs have accumulated net inflows of $1.5 billion, with Franklin Templeton's XRPZ fund leading the pack.
However, a significant gap exists between these institutional flows and XRP's price performance, which remains 67.92% below its 52-week high of $3.37 from last August. The main overhang remains legislative, with the US Senate postponing the Clarity Act, a bill that could clarify regulatory jurisdictions for cryptocurrencies.