📣 Ripple Prime, Ripple’s institutional finance division, has entered the U.S. leveraged ETF market, valued at $256 billion. The market includes 593 funds managing more than $256 billion, 426 of which track individual stocks. Ripple Prime provides financing and derivatives exposure through its Delta One business, launched in August, and competes with traditional banks to earn financing fees on total return swaps. According to a reported transaction, the Tradr 2X Long SNDK Daily ETF pays Ripple Prime an overnight bank funding rate plus four percentage points, bringing the annualized funding rate to nearly 8% under current market conditions.
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