XRP ETFs Surge as Ripple's Institutional Traction Grows
Ripple's native token XRP has been gaining traction in the institutional market, with spot XRP ETFs registering eight consecutive green weeks and a cumulative net inflow surpassing $1.7 billion.
The lineup of companies offering such products is growing, including Bitwise, Franklin Templeton, Canary Capital, 21Shares, and Grayscale, among others.
A new product, the 'CYBER HORNER S&P 500® and XRP 75/25 Strategy ETF', has been filed with the SEC by Exchange Listed Funds Trust. If approved, it will allow investors to gain exposure to both the stock market and Ripple's native cryptocurrency in a 75/25 ratio.
Ripple's dollar-pegged stablecoin RLUSD continues to expand its global reach, receiving approval from the Japanese Financial Services Agency (JFSA) to launch in the country. Its market cap has grown to almost $2.5 billion, making it the 42nd-biggest cryptocurrency and the 9th-largest stablecoin.
A critical bug affecting the XRP Ledger's Permission Delegation feature was recently fixed by the team, preventing any potential exploitation or loss of funds.