Charles Schwab Reveals $4.8M XRP ETF Exposure, Yet Price Drops 5%

Charles Schwab’s Prime Advantage Money Fund has disclosed nearly $4.8 million in XRP ETF shares used as collateral, pointing to growing institutional use of XRP linked products. 

Despite the Charles Schwab XRP ETF disclosure, XRP continues to fall, dropping 5% to around $1.36.

Schwab Reports $4.8M in XRP ETF Collateral

According to the Form N-MFP3 filed with the U.S. Securities and Exchange Commission, the Schwab Prime Advantage Money Fund reported $4.8 million in XRP ETF shares used as collateral across three products. 

The filing lists the Schwab Prime Advantage Money Fund under the Charles Schwab Family of Funds. It shows exposure to three XRP-linked ETFs, with the Canary XRP ETF making up the largest portion at around $3.06 million.

Followed by the Grayscale XRP Trust ETF, which accounted for roughly $1.01 million, while the Franklin XRP ETF made up about $702,000.

However, the filing does not mean Schwab directly bought these ETFs as an investment. Instead, the shares were pledged as collateral in short-term funding arrangements.

More Institutions Add XRP ETF Exposure

The Schwab disclosure is not a single case. Several investment firms have also reported XRP ETF holdings in regulatory filings.