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XRP Ripple is expanding its footprint into traditional finance, according to WSJ. Ripple is emerging as an emerging force in the leveraged ETF money market, which has long been dominated by Wall Street banks.
Ripple Prime officially launched
Reports indicate that Ripple Prime provides funding for leveraged ETFs that track daily multiples of individual stocks and major indices. In this model, Ripple Prime generates revenue by providing ETF managers with financial contracts that track multiples of stock returns and charging fees accordingly.
The Wall Street Journal cited Ripple's funding of the Tradr2X Long SNDK Daily ETF as an example, saying that the SanDisk 2 times leveraged ETF pays Ripple approximately 8% of its fees every year. However, Ripple has not disclosed the total revenue it receives from leveraged ETF financing, nor has it stated the specific use of XRP and XRP Ledger in these transactions.
Increased competition on Wall Street
The size of the U.S. leveraged ETF market also reveals why Ripple is focusing on this. According to Morningstar Direct data cited by WSJ, there are 593 leveraged ETFs in the United States, with total assets under management exceeding $256 billion.
In addition, banks have limited operating space in certain areas due to capital and risk management regulations, creating new opportunities for financial institutions such as Ripple Prime. At the same time, Ripple has also expanded its partnership with hedge fund Brevan Howard to begin providing prime brokerage, clearing and financing services across multiple asset classes. These moves are interpreted as a sign that Ripple is preparing to play a more important role in the institutional infrastructure of traditional finance, with influence that will transcend the cryptocurrency market itself.
This article is for reference only and does not constitute investment advice.
