[Coin World] The institutional buying frenzy for XRP is getting more and more lively.
21Shares has just launched their spot XRP ETF (ticker TOXR) on Cboe, making them the fifth major player to jump in and share the cake after Canary Capital, Franklin Templeton, Grayscale, and Bitwise. Since mid-November, these companies have successively launched products that have attracted $666 million into the market—directly pushing XRP up 12% in a week, now stabilizing around $2.20.
The design of this product by 21Shares is quite standard: it anchors to the CME XRP/USD reference price, and the physical tokens are entrusted to two custodians, Anchorage and BitGo. From the looks of it, the recognition of XRP in the traditional financial sector is indeed accelerating into realization.
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DAOdreamer
· 12h ago
Oh no, the institutions are really getting involved now, XRP still has to survive.
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GasGuzzler
· 13h ago
Wow, institutions are really starting to buy the dip on XRP, how did 666 million come in so quickly?
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SerRugResistant
· 13h ago
The entry of institutions is different; XRP seems to have stabilized this time.
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FarmHopper
· 13h ago
The entry of institutions is a signal, XRP is rising this time.
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GasFeeDodger
· 13h ago
660 million invested in, this institution really has confidence in XRP.
XRP Spot ETF has been launched in a cluster, with institutions rushing to raise 666 million USD, driving a weekly big pump of 12%.
[Coin World] The institutional buying frenzy for XRP is getting more and more lively.
21Shares has just launched their spot XRP ETF (ticker TOXR) on Cboe, making them the fifth major player to jump in and share the cake after Canary Capital, Franklin Templeton, Grayscale, and Bitwise. Since mid-November, these companies have successively launched products that have attracted $666 million into the market—directly pushing XRP up 12% in a week, now stabilizing around $2.20.
The design of this product by 21Shares is quite standard: it anchors to the CME XRP/USD reference price, and the physical tokens are entrusted to two custodians, Anchorage and BitGo. From the looks of it, the recognition of XRP in the traditional financial sector is indeed accelerating into realization.