Assets under management (AUM) for 21Shares Ripple XRP ETP (AXRP) have officially topped $100 million.
The XRP cryptocurrency provides complete support for the product, which was first introduced in April 2019.
Companies like 21Shares and CoinShares in Europe also provide XRP ETPs in addition to 21Shares.
The SEC in the United States may approve a number of pending spot XRP ETF proposals.
Early in November, 21Shares entered the XRP ETF contest, according to U.Today.
Bitwise and Canary Capital have already filed their own XRP ETF applications.
Brad Garlinghouse, the CEO of Ripple, has stated time and time again that the US will eventually see the introduction of an XRP ETF. Some experts, however, think that this is unlikely to occur very soon.
In anticipation of a far more lenient regulatory environment in the United States, the cryptocurrency XRP has had a tremendous surge.
The price of the token has risen to its highest level since November 2021 due to persistent rumours that SEC Chair Gary Gensler may soon quit.
Despite giving up some gains, XRP has still increased by more than 80% in the last week.
