Ripple ETP is now available from CoinShares

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CoinShares, Europe’s largest digital asset manager, has launched a Ripple ETP with over $5 billion in assets under management.

The digital asset management company announced the CoinShares Physical XRP (XRPL), which will trade on the SIX Swiss SIX Exchange. The Ripple ETP’s overall cost ratio will be 1.50, and each unit will be backed by 40 XRP. The firm’s Ripple ETP would mimic the movement of XRP on the cryptocurrency sector.

On the crypto market, XRP has fallen by nearly 3%, with many other cryptocurrencies witnessing a price retracement. After the pullback, XRP has mostly recovered, reaching $1.50 last week after Ripple, its associated fintech company, won a series of legal victories.

Following the announcement of ETPs backed by Bitcoin, Ethereum, and Litecoin earlier this year, CoinShares‘ Ripple ETP is the company’s fourth exchange-traded product launch of 2021.

Beginning with Bitcoin’s rise to new heights in 2020, crypto goods have been gaining momentum over the last year.

75 percent of equity investors favor cryptocurrency properties, according to a survey conducted by crypto platform Voyager Digital. Of the 1,285 people polled, 55% believed Bitcoin was a better store of value than other assets such as real estate, stocks, precious metals, and government bonds.

“We believe that the signals from the adoption curve show that we are in the early stages of digital asset investing, with over 73% of respondents believing BTC will appreciate over the next month, and 79% plan on adding to their BTC holdings over the next 30 days, backed by a bullish indicator of 8 out of 10 from survey respondents.”

Steve Ehrlich, CEO of Voyager, stated:

Ehrlich’s sentiments are similar to those of CoinShares chairman Danny Masters, who previously told CNBC that Bitcoin adoption has entered a new age. Although it was once considered a risk for fund managers to hold Bitcoin, he clarified that it is now considered a possible career risk to not include the cryptocurrency in one’s investment portfolio. According to him, there is currently a narrative in which the perceived career risk of having Bitcoin in your institutional portfolio, as a portfolio manager, is rapidly morphing into a career risk of not having Bitcoin in your portfolio, which is a truly stunning growth.

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