MassMutual Expands Crypto Holdings with Bitwise XRP ETF Investment
- MassMutual Private Wealth & Trust, FSB acquired 602 shares of the Bitwise XRP ETF, indicating increased confidence in XRP.
- The investment was disclosed in an SEC filing dated April 13, reflecting a strategy to diversify beyond Bitcoin ETFs.
- MassMutual also holds various Bitcoin ETFs, including those from BlackRock and Grayscale.
- On Monday, spot XRP ETFs recorded net inflows of $1.46 million, with total assets under management reaching $959 million.
- Currently, XRP is trading at $1.37, up over 3%, with a trading volume increase of 58% in the last day.
The growing institutional interest in XRP reflects increasing regulatory clarity as the SEC and CFTC classify it as a non-security asset. This shift has encouraged firms like MassMutual to expand their crypto portfolios significantly.
With MassMutual’s recent acquisition of Bitwise XRP ETF shares and the overall rise in institutional holdings, the cumulative inflow for XRP ETFs has now reached $1.22 billion.(Source)
