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Home»TRADING NEWS»Jupiter Asset Management Cancels Investment in Ripple XRP ETP Due to Regulatory Issues
TRADING NEWS

Jupiter Asset Management Cancels Investment in Ripple XRP ETP Due to Regulatory Issues

By Crypto FlexsFebruary 18, 20242 Mins Read
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Jupiter Asset Management Cancels Investment in Ripple XRP ETP Due to Regulatory Issues
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Jupiter Asset Management’s compliance department canceled its investment in the 21Shares Ripple XRP exchange-traded product (ETP) due to regulatory issues in Ireland, resulting in a minor financial loss.

Termination occurred due to compliance issues

Jupiter’s internal compliance team cited regulatory issues surrounding the Ripple XRP ETP, leading to the cancellation of the company’s initial $2 million investment. Despite the ETP’s promising returns, regulatory uncertainty forced Jupiter to liquidate its holdings, resulting in a loss of $834.

Ripple XRP ETP Performance

Jupiter’s first investment, 21Shares Ripple XRP ETP, returned 31.7% over one year. However, recent market fluctuations have seen its value fall 13.2% over the past six months. Jupiter’s decision to divest reflects the complexities of navigating regulatory issues in the cryptocurrency market.

legal disputes and regulatory uncertainty;

This decision comes amid ongoing discussions regarding the possibility of approving an XRP exchange-traded fund (ETF). The legal dispute between Ripple and the SEC over XRP’s security classification adds complexity to the regulatory environment, raising doubts about the feasibility of the XRP ETF.

Ripple CEO’s Perspective

Ripple CEO Brad Garlinghouse remains optimistic about the future of cryptocurrency ETFs following the SEC’s approval of a spot Bitcoin ETF. Garlinghouse anticipates increased adoption of cryptocurrency ETFs, potentially including an Ethereum ETF, but does not explicitly predict approval of an XRP ETF.

conclusion

Jupiter Asset Management’s decision to cancel its investment in the Ripple XRP ETP highlights the regulatory challenges facing institutional investors in the cryptocurrency market. As regulatory uncertainty persists, navigating compliance requirements remains a key consideration for market participants.

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