The post XRP News: 21Shares Crosses $1 Billion in XRP & Solana ETF appeared first on Coinpedia Fintech News
The Head of U.S. Business at 21Shares, Federico Brokate, revealed that the company’s XRP and Solana ETFs have crossed $1 billion in assets this year out of Europe. This reflects a strong community backup in 21Shares and significant investors’ interest.
$1 Billion in XRP and Solana ETF in Europe
21Shares, a prominent issuer of crypto exchange-traded funds (ETFs), has multiple ETPs (Exchange Traded Products) related to XRP and Solana. The products are physically-backed and listed on major European exchanges, including Nasdaq Stockholm, Euronext Amsterdam, and SIX Swiss Exchange. It explains the strong investor demand and institutional adoption of the company’s crypto products.
In a recent interview in The Crypto Beat, Brokate stated, “Our XRP and our Solana ETFs crossed $1 billion in assets this year out of Europe…You can only imagine what that will look like in the US once those products are approved.”
21Shares Expands Under Brokate’s Leadership
Since Brokate’s appointment in 2024, the company has continued to expand in terms of product lineup and business strategy. The firm now manages billions in assets under management with nearly 50 U.S. employees. It shows a significant growth in the U.S. crypto ETF market.
Brokate brought impressive ETF and business expertise from his previous roles at BlackRock. Now, he is aligning the crypto ETFs with growing institutional demand and regulatory clarity in the digital assets space.
Brokate’s Comment on the US Administration’s Stance on Crypto
With growing institutional adoption in crypto, especially in the United States, 21Shares’ head praises the Securities and Exchange Commission (SEC) for its active oversight in the crypto space. He says that the administration is moving quickly with its regulations to provide clarity for digital assets.
Brokate states, “The number of things on the administration’s plate right now is quite astonishing…I think that we’re seeing all the support that we saw, at least for the GENIUS Act and for the CLARITY Act.”
“Then some of these potential approvals that we have coming up down the road are a great indication of how there’s been a shift in Washington broadly,” he adds.