XRP ETFs Gain Traction in US Markets as Institutional Use Surges

XRP exchange-traded funds (ETFs) have gained traction in US markets. On September 8, XRP ETF shares worth $11.39 million were used as collateral in Charles Schwab's repo agreements with JPMorgan and BofA Securities.

This is not an isolated event; nearly $4 billion in XRP ETF shares from four US spot funds have been pledged as collateral by a Charles Schwab money market fund, marking a significant increase. The funds involved are Grayscale, Canary, Franklin, and Bitwise.

In addition to this, XRP ETFs attracted net inflows of $2 million on the same day, contrasting with outflows in larger crypto ETF categories like Bitcoin. This development highlights the growing institutional exposure and investor interest in XRP ETFs.