Exciting news for Ripple (XRP) emerged while Reaper Financial CEO Patrick L. Riley hinted at an important development on Twitter. Here are the details…
SEC filing for XRP-based hedge fund
According to Riley, Arrington Capital, a leading crypto asset management firm specializing in blockchain-based capital markets, recently filed with the U.S. Securities and Exchange Commission (SEC) for an XRP-based hedge fund. This move signals greater exposure and potential institutional investment opportunities for XRP. Riley’s tweet resonated in the crypto community, especially among XRP enthusiasts. His post includes the following statements:
Arrington recently filed with the SEC for an XRP-based hedge fund. There seems to be an expectation that everything will go well.
The CEO’s statement hints at the fund’s confidence in its prospects and a positive outcome for the filing. Founded in 2017, Arrington Capital operates under the brand name “Arrington XRP Capital”, which manages a multi-strategy hedge fund focused on the early-stage venture and public markets. Hedge funds serve as investment vehicles that raise funds from investors aiming to generate profitable returns. These funds are often of interest to institutional investors such as pension funds, insurance companies, and high net worth individuals.
It will be a turning point for Ripple
Although hedge funds are exempt from some regulations aimed at protecting investors, they are subject to anti-fraud regulations and their managers have a fiduciary duty to the funds they control. The application by Arrington Capital proposes a potential avenue for institutional investors to gain exposure to XRP while the fund awaits approval from the SEC. The approval of the proposed XRP-based hedge fund will mark a major milestone for Ripple’s crypto asset and offer an opportunity to reach a wider investor base.
Meanwhile, cryptocoin.com As reported by CoinShares, a leading crypto-asset investment firm specializing in ETPs, crypto-asset investment products have seen a significant flow of funds in the past few weeks. The firm’s latest report revealed that these products saw the largest single weekly listing since July 2022, totaling $199 million. This positive trend smoothed out the nine-week consecutive exit period. CoinShares also noted that ETP transaction volumes increased by an average of 170 percent this year, totaling $2.5 billion. While XRP’s share of entries has remained relatively modest at $0.24 million, this filing comes just after the $1.1 million entry in XRP the previous week.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. Therefore, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.