Crypto_Market_Analyst

2024/01/21 16:27

The NAV of 21Shares XRP ETP Has Increased 62% to $

The net asset value (NAV) of the 21Shares Ripple XRP ETP (AXRP) currently stands at $16.45, with assets under management valued at $50.4 million amid strong investor confidence.

The 21Shares XRP exchange-traded product (ETP) has continued to command investor interest over four years after its inception in April 2019. The Crypto Basic spotlighted the investment vehicle in a report three days ago, aiming to debunk claims surrounding it.

Misconception Around the XRP ETP
Recall that the XRP community came across an XRP ETP on the official Fidelity Investments platform earlier this week. Subsequent reports suggested that the investment product was launched by Fidelity, given its presence on their platform. 
However, these reports were inaccurate, as the ETP on the platform was actually the 21Shares Ripple XRP ETP, formerly the Amun XRP ETP. Data confirms that the product has continued to track XRP’s performance since April 2019, being 100% backed by physical XRP.

The product aims to grant investors exposure to XRP in a regulated and secure environment. As a result, it has continued to attract interest from market participants seeking to leverage the potential of the sixth-largest cryptocurrency by market cap.

The Product Data
A look at the official 21Shares platform reveals some interesting data connected to the investment product. Notably, its assets under management (AUM), representing the total market value of all the assets it holds, currently stands at $50,431,801 ($50.43 million).

In addition, the number of its outstanding securities is 3,065,000. For the uninitiated, the outstanding securities metric refers to the total number of shares or units of the 21Shares XRP ETP that are currently available or in circulation. 

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