$584 billion insurance giant MassMutual signals confidence in XRP, building new crypto positions beyond Bitcoin ETF holdings. MassMutual invested in Bitwise XRP ETF holdings via its subsidiary, joining other tradFi institutions.
MassMutual Adds Bitwise XRP ETF to Crypto Holdings
MassMutual Private Wealth & Trust, FSB expanded crypto exposure with the Bitwise XRP ETF, according to a SEC filing dated April 13. This indicates the company’s growing confidence in XRP amid increasing regulatory clarity.
MassMutual Private Wealth & Trust holds 602 shares of Bitwise XRP ETF. The disclosure signals the company continues to build its crypto exposure beyond investments in Bitcoin ETFs.
Moreover, MassMutual Private Wealth & Trust, FSB also has holdings in BlackRock Bitcoin ETF (IBIT), Bitwise Bitcoin ETF (BITC), Fidelity Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Mini Trust ETF, and Grayscale Bitcoin Trust ETF (GBTC).
As CoinGape reported earlier, $3.5 trillion asset manager Goldman Sachs’ XRP ETF holdings are the largest. The recent holdings revealed a total holding of more than $152 million.
XRP Price Rises amid Rising Institutional Holdings
Institutional interest in XRP is rising amid growing crypto regulatory clarity under the Trump administration. Also, the SEC and CFTC classified XRP and other major crypto assets as non-securities.
Spot XRP ETFs saw net inflows of $1.46 million on Monday. Franklin XRP ETF (XRPZ) was the only one to record inflows, according to SoSoValue data.
As a result, the cumulative total inflow has increased to $1.22 billion, with total assets under management reaching $959 million. Whales and institutional investors such as MassMutual continue to accumulate XRP amid the recent dips.
As CoinGape reported earlier, Santiment signals a relief rally in XRP as FUD reached its 3rd-highest level in the past 2 years. Options traders are also targeting XRP price to trade near the $1.45 max pain point by the April 24 monthly expiry.
XRP price is currently trading more than 3% higher at $1.37. The 24-hour low and high are $1.32 and $1.38, respectively. Furthermore, trading volume has further bounced by 58% over the last 24 hours, indicating a rise in interest among traders.