Crypto
BMO Adds to Growing Institutional Exposure to Regulated XRP Investment Products
Bank of Montreal's (BMO) disclosure of positions in two XRP-linked exchange-traded funds (ETFs) has added to the growing institutional exposure to regulated XRP investment products.
The bank reported combined exposure of approximately $2,970 across the two products in its latest quarterly filing with the U.S. Securities and Exchange Commission (SEC).
XRP was trading at around $1.02 at press time, down approximately 0.54% over the previous 24 hours.
The REX-Osprey XRP ETF (XRPR) provides exposure to XRP's price movements through a regulated investment vehicle, while the ProShares Ultra XRP ETF (UXRP) takes a more aggressive approach by seeking to deliver approximately twice the daily performance of XRP through derivatives.