Crypto
Schwab Filing Shows $4.8 Million in XRP ETF Shares Used as Collateral
A recent filing by Charles Schwab revealed that nearly $4.8 million in XRP-related ETF shares were used as collateral for the company's Prime Advantage Money Fund.
The filing, dated September 8, shows a breakdown of the XRP ETF shares held by the fund: approximately $1.01 million in Grayscale XRP Trust ETF shares, around $3.06 million in Canary XRP ETF shares, and about $702,000 in Franklin XRP ETF shares.
This is significant because it indicates that institutions are using XRP ETF products as collateral for financing operations or other deals, rather than just owning them outright.