Morgan Stanley Reveals XRP Holdings Through ETFs
- Morgan Stanley disclosed XRP exposure through two exchange-traded funds in its Q1 filing with the US SEC.
- This marks the bank’s first investment in XRP, as it views Ripple as a viable alternative to SWIFT for payments.
- On Thursday, spot XRP ETFs attracted $1.77 million in inflows, while Bitcoin and Ethereum ETFs faced significant redemptions.
- XRP’s price increased by 4% over the past day, trading at $1.32 with a low of $1.28 and a high of $1.33.
- XRP futures open interest rose nearly 0.30% to $2.95, with varying changes across different exchanges.
The inclusion of XRP holdings by Morgan Stanley reflects increasing institutional interest in cryptocurrency, particularly as the bank expands its crypto services and seeks SEC approval for additional ETFs.
With spot XRP ETFs seeing $1.77 million in inflows amidst broader market activity, this development highlights growing confidence in XRP’s market position.(Source)
