According to CoinMeta, on August 31, CITIC Financial's money market funds disclosed that four spot XRP shares, namely Grayscale, Canary, Franklin, and Bitwise, were used as collateral for repurchase agreements. The total scale of these repurchase agreements is nearly $4 billion, with JPMorgan Securities and Bank of America Securities as the counterparties. The size of the collateral from XRP ETF increased from $36,000 in April to $8.32 million in August. When CITIC Financial's money market funds lend cash, the borrowers use a basket of securities as collateral.