- 21Shares XRP ETP surpasses $140M in assets under management
- Fund shows over 113% growth in past month
- Multiple firms file for XRP spot ETF amid growing institutional interest
European asset manager 21Shares has announced a milestone for its XRP exchange-traded product (ETP), with assets under management (AUM) surpassing $140 million. The announcement marks a new chapter in the growing institutional adoption of the sixth-largest cryptocurrency.
The 21Shares Ripple XRP ETP (AXRP), launched in April 2019, has demonstrated remarkable performance metrics. Trading on major European exchanges, including SIX Swiss Exchange and Euronext Paris, the fund has achieved a net asset value per unit of $32.92 as of November 18.
“The fund’s performance has been exceptional, with 113.25% growth in the last 30 days and 95.32% over the past quarter,” noted the company’s announcement. Year-to-date returns stand at 97.87%, contributing to a lifetime appreciation of 225.32%.
The milestone comes amid increasing institutional interest in XRP, particularly following recent political developments in the United States. The prospect of new leadership at the SEC under a pro-crypto administration has sparked renewed optimism for regulatory clarity.
“The growth in our XRP ETP reflects broader institutional confidence in the asset,” a 21Shares representative stated. The fund, which is 100% physically backed by Ripple coins, continues to attract institutional investors seeking regulated exposure to the digital asset.
The success of 21Shares’ ETP coincides with growing competition in the ETF space. Multiple asset managers, including Bitwise and Canary, have filed for spot XRP ETFs with the SEC. Industry observers speculate that Grayscale, following its September launch of the XRP Trust, may also join the ETF race.
