Accredited investors may soon have a new way to gain exposure to XRP without directly purchasing the cryptocurrency.
Fox Business correspondent Eleanor Terrett has reported that XRP Depository Receipts (XRP DRs) are now available through RDC and Digital Wealth Partners, offering an alternative investment structure similar to American Depository Receipts (ADRs).
These receipts function much like exchange-traded funds (ETFs), allowing investors to access XRP through traditional finance channels without trading on crypto exchanges.
The assets will be held by Anchorage Digital, a federally regulated bank under the supervision of the Office of the Comptroller of the Currency (OCC).
Terrett described XRP DRs as a bridge between traditional finance (TradFi) and decentralized finance (DeFi), potentially paving the way for greater institutional adoption of XRP.
While some firms have applied for an XRP spot ETF, it remains uncertain whether the SEC will approve such products under future regulatory frameworks.
Pepe (PEPE) has surged by 6.5% in the past 24 hours as trading volumes have increased by 60%. This meme coin has been one of the top-performing assets of its category in the past month with gains of 56.4%. Pepe is a favorite among traders based on the open interest of futures contracts linked to […]
Altcoins may be heading for deeper losses against Bitcoin, according to crypto market analyst Benjamin Cowen, who sees no signs of reversal in the broader trend.
Binance is expanding its derivatives lineup once again—this time adding two emerging altcoins, PUFFER and Port3 Network (PORT3), to its futures platform with leverage options of up to 50x.
Arthur Hayes has ignited fresh buzz in crypto circles with a cryptic take on trader James Wynn’s recent activity.