Ripple Success: SBI Launches Crypto Asset Fund Featuring 50% XRP
Another day another Ripple/XRP success. This has been a great year for the two entities, despite the global economic issues that have been triggered by the global pandemic.
Ripple has been pushing the adoption of XRP for quite a while now, while also boosting the whole XRP ecosystem.
Now, XRP enthusiasts get one more great piece of news.
SBI Holdings to create a new crypto asset fund
Japanese financial giant SBI Holdings is saying that they plan to create a new crypto asset fund that is featuring a 50% allocation to Ripple’s XRP.
SBI said that the crypto asset fund is expected to launch in the upcoming months.
SBI explained that the fund is designed to allow its clients to gain exposure to the unique and emerging asset class.
“Providing individual investors with a crypto asset fund that embodies the resources of the SBI Group. Crypto assets, which have a low correlation to traditional assets such as stocks, bonds, etc., enhance the effectiveness of diversification.”
It’s been also revealed that the other half of the fund will feature a 30% Bitcoin (BTC) allocation and a 20% Ethereum (ETH) allocation.
Anyway, we recommend that you check out the complete official notes in order to learn more details.
XRP bullish prediction
We reported earlier today, that there are some bullish predictions about the price fo XRP.
The richest addresses are buying more and more XRP.
According to the data analysis service Ledger.exposed, provided by the popular Ripple developer Wietse Wind, some XRP whales have accumulated more than 1.5 million XRP during the last months.
According to the latest reports, XRP investment has increased especially among investors who hold 10 million XRP or more on their wallet.
At the moment of writing this article, XRP is trading in the green just like most of the coins and the digital asset is priced at $0.176702.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.