Ripple Expands Into Leveraged ETF Swap Financing via Ripple Prime
- —Ripple Prime provides TRS swaps to leveraged ETFs, charging fees near 8% of assets annually
- —The US has 593 leveraged ETFs with over $256 billion in assets, 426 tracking single stocks
- —Hidden Road was acquired for $1.25 billion and rebranded as Ripple Prime
- —Ripple Prime has begun serving hedge fund Brevan Howard
Why it matters: Ripple is pushing from crypto infrastructure into traditional finance, taking ETF swap financing share from large banks.
Source: Blockmedia