Schwab's XRP ETF Exposure Reaches $4.8M Amid Token Price Drop

The Charles Schwab Prime Advantage Money Fund has revealed its exposure to XRP-linked products, showing nearly $4.8 million in XRP ETF shares used as collateral. This represents growing institutional use of XRP tied investments.

The filing with the U.S. Securities and Exchange Commission lists three XRP-linked ETFs: Canary XRP ETF, Grayscale XRP Trust ETF, and Franklin XRP ETF. The largest portion is held in the Canary XRP ETF at around $3.06 million, followed by the Grayscale XRP Trust ETF at roughly $1.01 million.

However, it's essential to note that these shares were pledged as collateral in short-term funding arrangements and not directly bought as investments.

This is not an isolated case; several investment firms have also reported XRP ETF holdings in regulatory filings. Clear Creek Financial Management disclosed 11,621 shares of the Bitwise XRP ETF for the quarter ending June 30.