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HomeCrypto NewsMarketXRP Exposure in Crypto Index Funds 'Getting Bigger Than You Can Imagine,' Expert Says

XRP Exposure in Crypto Index Funds ‘Getting Bigger Than You Can Imagine,’ Expert Says

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XRP commentator Chad Steingraber highlighted a new wave of U.S.-listed crypto ETFs that now include XRP in their approved portfolios. 

The update follows the debut of the Bitwise 10 Crypto Index Fund (BITW) on NYSE Arca yesterday. Notably, BITW posted an impressive $1.25 billion in assets under management (AUM) on its first trading day. With XRP accounting for 5.16% of the fund, this translates to roughly $64.5 million.

More US Crypto ETFs Featuring XRP

After the launch, Steingraber emphasized that an increasing number of U.S.-listed index ETFs already feature XRP or plan to add it to their holdings. He pointed to the Hashdex Nasdaq Crypto Index Fund (NCIQ), which secured regulatory approval in September and includes XRP in its asset basket.

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At launch, XRP accounted for 7.11% of the portfolio, though its weighting has since decreased to 6.35% as of press time.

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Additionally, the Grayscale CoinDesk Crypto 5 ETF (GDLC), which debuted earlier this year, allocates to XRP, assigning the token a 5.12% weighting.

Moreover, several upcoming crypto index funds are set to include XRP. The WisdomTree Physical CoinDesk 20 ETF, according to a November 7 filing, lists XRP at a 17.80% weighting. Meanwhile, the Truth Social Crypto Blue Chip ETF indicates that XRP will represent 2% of its total portfolio.

Commenting on these developments, Steingraber remarked, “This gets bigger than you can imagine.”

Spot XRP ETFs Hold Over 500 Million Tokens

While XRP continues to appear in several U.S.-based crypto basket ETFs, the token also has multiple single-asset spot ETFs in the country. Currently, Grayscale, Canary, Bitwise, and Franklin each operate ETFs focused exclusively on XRP.

Since trading began on November 13, these single-asset products have accumulated a combined $945 million in net assets. Including the REX-Osprey XRP ETF, which is referred to as a partial spot XRP ETF, Steingraber noted that these funds collectively hold about 506,067,267 XRP (506.06 million), valued at roughly $1.06 billion at the current market price of $2.10.

As more XRP ETFs launch in the U.S., many community members believe the token could attract more market attention, similar to what Bitcoin and Ethereum experienced after their ETF launches.

Responding to claims that Bitcoin doubled from $60,000 to $120,000 two years after its ETF approval, Steingraber predicted that XRP might rise from $2 to $10 within a year.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Author

Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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