Four XRP ETFs Used as Repo Collateral in Schwab Money Fund

Charles Schwab’s Schwab Prime Advantage Money Fund disclosed that shares of four U.S. spot XRP exchange‑traded funds are being used as collateral in repurchase agreements totaling roughly $3.99 billion.

ETF issuers and counterparties

The ETFs involved are the Grayscale XRP Trust ETF, Canary XRP ETF, Franklin XRP ETF and Bitwise XRP ETF. Five separate repo agreements are listed:

• Four agreements with JP Morgan Securities at rates of 3.85% and 4.13%, valued at $1.093 billion, $1.198 billion, $400 million and $383 million.
• One agreement with BofA Securities at 4.15% for $919.5 million, which includes all four XRP ETFs in a single collateral basket of 1,411 names.

Scale of XRP ETF collateral

The collateral value has risen sharply in recent months, from $35,973 in April 2026 to $8.32 million by August 31, 2026—a roughly 20‑fold increase since May.

Regulatory and market context

The use of XRP ETFs as repo collateral indicates acceptance by short‑term funding markets, even as overall institutional ownership of the funds remains limited. The filing arrives ahead of a Senate cloture vote on the CLARITY Act and follows an SEC order naming XRP an eligible commodity for Nasdaq listings.