XRP ETP Tops $140M AUM Amid Growing Demand

A leading XRP exchange-traded product (ETP) issuer has recorded a significant milestone, with its fund reaching $140 million in AUM.

The asset under management (AUM) of AXRP, a major XRP ETP issued by 21Shares, has crossed a major milestone. In a Monday tweet, the Zurich-headquartered asset manager revealed that its XRP investment product has surpassed the $100-million AUM mark.

21Shares XRP ETP Cross $140M in AUM

Launched in April 2019, the 21Shares Ripple XRP ETP (AXRP) is an investment vehicle that offers investors alternative means of exposure to the sixth-largest cryptocurrency by market cap. The fund trades in major European exchanges, including the SIX Swiss Exchange and the Euronext Paris.

21Shares announced that AXRP has crossed $100 million in AUM, with its official website showing the product now holds $142 million as of Monday. This remarkable milestone comes amidst growing global interest in the XRPL native token.

As of November 18, AXRP’s net asset value per unit is $32.92. The fund, which is 100% physically backed by XRP, has also recorded impressive price returns in the past month and year.

For context, data confirms that AXRP has grown 113.25% in the last 30 days and 95.32% over the past three months. The ETP has appreciated 97.87% on a year-to-date basis, taking its lifespan’s uptick to 225.32%.

It bears mentioning that the XRP ETP is not the same as an ETF. An ETP is a broad range of securities products that track the performance of an underlying asset, which an ETF is a type of. An ETP includes other products like exchange-traded notes (ETN) and exchange-traded commodities (ETC).

Growing Institutional Traction to XRP

Notably, the fund’s growth mirrors the growing global traction towards XRP amid confidence in regulatory clarity for the asset in the United States. For context, the electoral triumph for pro-crypto Donald Trump has sparked speculations of SEC chair Gary Gensler’s sack and a possible settlement of the Ripple vs. SEC case.

Meanwhile, 21Shares’ US entity has already filed for an XRP spot ETF, becoming the third asset manager to do so. Issuers like Bitwise and Canary also applied with the SEC for the investment tool, signaling growing demand for the asset.

Furthermore, Grayscale may also be eyeing the fund following the launch of the XRP Trust in September. The leading asset manager has a history of converting trust funds to ETFs, as seen in Bitcoin and Ethereum’s cases.