US Securities and Exchange Commission (SEC) documents show that CITIC Financial's money market funds held approximately $4.8 million in shares of ETF linked to XRP, which were used as collateral in the related transactions. Despite the continued increase in the use of such products by institutions, the price of XRP continued to decline after the news was disclosed, falling by about 5% on that day.
The total cost of the three products is approximately $4.8 million.
The company disclosed that this exposure originated from Schwab Prime Advantage Money Fund, and the file type is Form N - MFP3 submitted to the U.S. Securities and Exchange Commission (SEC). The disclosure shows that the fund used three shares of ETF related to XRP as collateral for the arrangement.
- Canary XRP ETF: Approximately $3.06 million
- Grayscale XRP Trust ETF: Approximately $1.01 million
- Franklin XRP ETF: Approximately $702,000
Institutional exposures continue to increase.
The report mentions that this is not an isolated case. In addition to Harvest Financial, several other investment institutions have disclosed XRP ETF related positions in regulatory documents. However, compared to the mainstream ETF configurations of large asset management firms, the overall scale of these positions is still relatively small.
From the perspective of market structure, the scope of use by institutions involving XRP ETF is expanding, but for now, it is more reflected in product-level configuration and collateral requirements, and has not yet directly translated into sustained support for spot prices.
XRP Divergence between Price and Capital Flow
While institutions are disclosing increased information, the price performance of XRP remains weak. Reports show that the latest trading price of XRP is around $1.36, with a daily decline of about 5%, which is approximately 53% lower than the level from a year ago and still about 60% below its historical high.
However, spot XRP ETF recorded a net inflow of approximately $12.25 million on that day, while funds flowed out from Bitcoin and Ethereum-related funds during the same period. According to reported data, the cumulative net inflow for spot XRP ETF has reached about $1.7 billion.
Additional information:The exposure mentioned in the text refers to the collateral of ETF shares held by the fund, and it is not equivalent to Jiaxin Financial directly purchasing the spot XRP.
