tl; dr
- The launch of the Rex-Soprey XRP ETF (XRPR), known as the “spot ETF with extras,” is one of the most talked about topics in the Crypto community recently.
- Ripple has also collaborated with Franklin Templeton and DBS Bank to enable transactions between RLUSD Stablecoin and Franklin’s tokenized money market fund Sgbenji.
Breaking news today
Ripple has recently won center stage, mainly due to the development of the ETF front. As cryptopotato It has been reportedthe Rex-Soprey XRP Exchange-Traded Fund (under the Ticker XRPR) is scheduled to be released today (September 18th).
The issuer described the investment instrument as a spot ETF, but some industry participants identified the features that distinguished them from other such products. Popular Fox business journalist Eleanor Terrett claimed it would act as a “spot ETF with extras.”
“For my understanding, it’s a spot product from the ’40 ACT rapper that holds real XRP and cash, the Treasury and some derivatives. It’s basically a spot ETF with extras and is more regulated than traditional spot products,” she said.
Contrary to future products, we’ll spot crypto etf that we already have Approved In the United States, it is registered under the Securities Act of 1933 and controls product-based trusts. Read the article for a detailed breakdown of how Rex-Soprey ETFs compare to standard spot ETFs here.
Grayscale also shows its intention to introduce products that track the performance of many cryptocurrencies, including XRP.
Today, CEO Peter Mintzberg I said The Securities and Exchange Commission (SEC) has approved the Grayscale Digital Large Cap Fund (GDLC) for transactions along with general listing standards. He also added that the team is working “quickly” to launch the first multicrypted asset ETP with BTC, ETH, XRP, SOL and ADA as the underlying assets.
GDLC Specially designed Ensure investors are exposed to some of the biggest cryptocurrencies without requiring them to purchase and store the coins themselves directly. Track Coindesk Large Cap Select index and operates with daily cash creation and redemption of a basket of 10,000 shares.
Ripple’s Honorable Partnership
In addition to Breaking ETF News, I shook hands Along with global investment firm Franklin Templeton (with over $1.6 trillion in assets under management) and DBS Bank, a leading Singaporean bank.
According to the signed memorandum (MOU), financial institutions list SGBENJ and RLUSD. The former is a tokenized version of Franklin Templeton’s US dollar money market fund, and the latter is Ripple’s Stablecoin; It’s pegged On the green back.
“This setup allows eligible DBS clients to exchange RLUSD for Sgbenji tokens, allowing their portfolios to be re-adjusted to relatively stable assets within minutes, 24/7, allowing them to earn yields during their volatility period,” the official announcement reads.
In the next phase of the collaboration, banks in Singapore will consider using SGBENJI tokens as collateral to help clients unlock liquidity.
Big Days for Ripple and XRP ETF: Everything you need to know first appeared in Cryptopotato.
