Schwab's $4.8M XRP ETF Exposure Fails to Lift Token
Charles Schwab has disclosed nearly $4.8 million in XRP ETF shares used as collateral across three products, according to a recent filing with the U.S. Securities and Exchange Commission.
The Schwab Prime Advantage Money Fund reported the exposure through three XRP-linked ETFs: the Canary XRP ETF at around $3.06 million, followed by the Grayscale XRP Trust ETF at roughly $1.01 million, and the Franklin XRP ETF at about $702,000.
The filing does not indicate that Schwab directly bought these ETFs as an investment; instead, the shares were pledged as collateral in short-term funding arrangements.
This is not a single case; several other investment firms have also reported XRP ETF holdings in regulatory filings. For example, Clear Creek Financial Management disclosed 11,621 shares of the Bitwise XRP ETF for the quarter ending June 30, while Leisure Capital Management reported 16,745 shares of the Franklin XRP ETF.
The growing institutional use of XRP ETFs comes as the token remains well below its previous high. As of now, XRP is down by 5%, trading around $1.36, while down about 60% from its all-time high.