Charles Schwab's Prime Advantage Money Fund has disclosed nearly $4.8 million in XRP ETF shares used as collateral, according to a Form N-MFP3 filing with the U.S. Securities and Exchange Commission. The disclosure points to expanding institutional involvement in XRP-linked products.
The collateral is spread across three XRP ETFs. The Canary XRP ETF accounts for the largest portion at approximately $3.06 million, followed by the Grayscale XRP Trust ETF at roughly $1.01 million and the Franklin XRP ETF at about $702,000.
The fund's holdings represent collateral pledged in short-term funding arrangements rather than direct investment purchases by Schwab.
Broader Institutional Interest in XRP ETFs
Schwab is not alone in reporting XRP ETF exposure. Clear Creek Financial Management disclosed 11,621 shares of the Bitwise XRP ETF for the quarter ending June 30. Leisure Capital Management reported 16,745 shares of the Franklin XRP ETF, while Beacon Pointe Advisors and Brookstone Capital Management have also disclosed XRP-linked ETF holdings.
These individual positions remain relatively small compared with major asset managers' typical holdings.
Market Dynamics and Inflow Data
U.S. spot XRP ETFs recorded approximately $12.25 million in daily net inflows, with cumulative total net inflows reaching $1.70 billion. This occurred while Bitcoin and Ethereum funds faced outflows during the same period.
XRP traded around $1.36, down 5% from recent levels and approximately 60% below its all-time high.
