Farmers & Merchants Investments Expands XRP Holdings with Bitwise ETF
- Farmers & Merchants Investments holds $3.6 billion in assets under management (AUM).
- The bank disclosed ownership of 2,374 shares in the Bitwise XRP ETF, valued at approximately $35,681.
- This move reflects growing confidence in XRP as traditional finance institutions increase their crypto exposure.
- Spot XRP ETFs experienced net inflows of $3.89 million recently, raising total assets under management to $1.08 billion.
- XRP price is currently trading at $1.42, with a low of $1.41 and a high of $1.44 over the past day.
The disclosure by Farmers & Merchants Investments highlights the increasing institutional interest in XRP, particularly as regulatory clarity improves for cryptocurrencies like XRP and others classified as non-securities by the SEC and CFTC.
With total inflows reaching $1.28 billion across spot XRP ETFs, this trend underscores a significant shift in traditional finance’s approach to digital assets.(Source)
