Schwab Fund Reports $4.8 Million in XRP ETF Holdings as Collateral

The Schwab Prime Advantage Money Fund reported in its Form N MFP3 filed with the U.S. Securities and Exchange Commission on September 8 that it has listed Grayscale XRP Trust ETF shares as collateral valued at $1.01 million, Canary XRP ETF shares at $3.06 million, and Franklin XRP ETF shares at $0.702 million. In total, the value of XRP ETF shares used as collateral reached approximately $4.8 million. Charles Schwab, one of the largest asset management and brokerage firms in the U.S., is closely monitoring this filing as part of the market's institutional adoption process. Recently, there has been an increasing interest from investment advisors and financial firms in XRP-related exchange-traded products. Clear Creek Financial Management reported 11,621 shares in the Bitwise XRP ETF for the quarter ending June 30. Leisure Capital Management also disclosed that it holds 16,745 shares in the Franklin XRP ETF. Beacon Pointe Advisors and Brookstone Capital Management are among other firms reporting exposure to XRP-related ETFs. Although the amounts disclosed by institutional managers remain limited for major asset managers, the appearance of similar positions in multiple filings indicates a growing interest in XRP ETFs. However, the price of XRP continues to trade approximately 60% below its all-time high.

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