21Shares Delists XRP From ETP Products, Eyeing Ripple Lawsuit Closely

21Shares Delists XRP From ETP Products, Eyeing Ripple Lawsuit Closely

THELOGICALINDIAN - Swissbased asset administrator with 235 actor in AUM has appear that it asleep XRP from its indexbased ETPs

Swiss crypto asset administrator 21Shares has appear the abatement of XRP from two of its exchange-traded articles (ETPs) that clue crypto indexes.

21Shares, aforetime Amun, currently manages over $235 actor in assets beneath administration (AUM) with 11 crypto ETPs. 

XRP Lawsuit’s Ripple Effect

The badge has been removed from the afterward ETP products:

More recently, crypto firms including exchanges, payment, and asset administration companies accept delisted XRP from their offerings, and for U.S. barter alone in some cases.

While 21Shares’ ETPs are not listed on U.S. exchanges, the aggregation said its accommodation to abolish the badge from its ETP articles was all-important to carbon the basal basis components. 

Recently, the U.S. Securities and Exchange Commission SEC) filed a lawsuit alleging that XRP is a security. 

Soon after, basis providers like MV Basis Solutions (issuer of 21Shares’ Crypto Bassinet Index) and Bitwise (issuer of the Bitwise Select 10 Large Cap Crypto Index) removed the badge from their bassinet of assets. 

21Shares accepted that XRP is affected by adverse amount activity and illiquidity due to the contempo SEC lawsuit.  

“As allotment of our quick intervention, the lath was able to abolish XRP application its ample arrangement of clamminess providers to cash its XRP position with the ultimate aim of abbreviation the bazaar appulse to which it was able to achieve,” Hany Rashwan CEO of 21Shares said in a media absolution aggregate with Crypto Briefing. 

However, the belvedere said it is still ecology 21Shares Ripple XRP (AXRP), the distinct asset ETP that advance XRP. The AXRP artefact has not been delisted yet, antiseptic 21Shares.