A Colorado-based wealth manager has disclosed a new investment in the Canary $XRP ETF.
It is yet another institutional firm that has gained exposure to $XRP through recently launched exchange-traded funds.
According to a Form 13F-HR filed with the U.S. Securities and Exchange Commission on July 17, Gallacher Capital Management LLC reported holding 86,744 shares of the Canary $XRP ETF ($961,126 as of June 30).
Institutional $XRP ETF holdings keep growing
Gallacher's disclosure follows several other recent 13F filings showing fresh institutional exposure to $XRP-linked investment products.
On July 16, registered financial advisor Vista Finance reported owning 129,958 shares of the Franklin $XRP Trust ETF, with a market value of roughly $11.45 million at the end of the second quarter.
A day earlier, CPR Investments, a Michigan-based registered investment adviser, disclosed a new position in the ProShares Ultra $XRP ETF. According to its SEC filing, the firm held 36,619 shares valued at approximately $363,627.
T. Rowe Price launches ETF with $XRP exposure
In the meantime, yet another product with $XRP exposure was recently launched in the US.
Earlier this week, Wall Street giant T. Rowe Price, which oversees roughly $7 trillion in assets under management, rolled out its first actively managed cryptocurrency ETF.
Trading under the TKNZ ticker, the fund provides diversified exposure to several major digital assets, including Bitcoin, Ethereum, Solana and $XRP. The ETF debuted with approximately $15 million in assets and carries a 0.75% management fee.
The entry of the financial giant into the ETF space is viewed as yet another sign of growing mainstream adoption.