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Ripple, as well as the broader XRP ecosystem, started September with new institutional partnership, ETF milestones, and more developments.
ByGeorge Georgiev
Over the past few days, developments in Ripple’s ecosystem centered on asset management, custody, and tokenization.
Meanwhile, XRP has failed to extend the rally that briefly carried it to around $1.70 in August, leaving traders focused on resistance levels and key support lines.
Bitwise XRP ETF Tops $500 Million
Bitwise’s spot XRP ETF has surpassed $500 million in assets under management only nine months after it was first launched. As CryptoPotato reported, the fund held about $507 million after Monday’s close, while US spot XRP ETFs had managed to attract a record $1.66 billion in cumulative net inflows by the end of last week.
Bitwise’s product leads this particular category with more than $600 million in cumulative inflows. It’s currently ahead of Canary Capital’s XRPC and Franklin Templeton’s XRPZ.
The milestone suggests that there’s continued demand for regulated exposure to XRP despite the token’s pullback from its August high.
Ripple, SettleMint Target Banks with New Institutional Stack
Ripple Labs and SettleMint have launched a partnership. It seeks to integrate Ripple Custody with SettleMint’s Digital Asset Lifecycle Platform.
The offering is aimed at allowing regulated financial institutions to custody, issue, and manage tokenized assets through a single system.
Source: cryptopotato.com