Charles Schwab Exposes Millions in XRP ETF Collateral Arrangements
A recent regulatory filing from the Charles Schwab Family of Funds has shed light on millions of dollars in XRP ETF collateral. According to a Form N-MFP3 filed with the U.S. Securities and Exchange Commission, the Schwab Prime Advantage Money Fund reported more than $1 million worth of shares in the Grayscale XRP Trust ETF as collateral.
The filing lists the Schwab Prime Advantage Money Fund under the Charles Schwab Family of Funds and values the Grayscale XRP Trust ETF collateral 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 total amount reported would be nearly $4.8 million worth of XRP ETF shares used as collateral. However, it's essential to note that the filing does not necessarily mean that Schwab's money market fund bought the XRP ETFs. Form N-MFP3 disclosures can identify securities posted as collateral.