Schwab's XRP ETF Collateral Reveals Growing Institutional Interest
A recent filing from the Charles Schwab Family of Funds has shed light on millions in XRP ETF collateral. According to a Form N-MFP3 filed with the U.S. Securities and Exchange Commission on September 8, the Schwab Prime Advantage Money Fund reported over $1 million worth of shares in the Grayscale $XRP Trust ETF as collateral. This is not an indication that the fund actually bought the XRP ETFs, but rather that they were used as collateral.
The filing lists a total of nearly $4.8 million worth of XRP ETF shares being used as collateral across three reported positions: $1.01 million in Grayscale $XRP Trust ETF, approximately $3.06 million in Canary $XRP ETF shares, and roughly $702,000 in Franklin $XRP ETF collateral.
These institutional filings indicate that more investment advisers and financial firms are gaining exposure to XRP-linked exchange-traded products. For instance, 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 in its second-quarter Form 13F.