Jiaxin Wealth Management Money Market Fund Includes Four XRP Spot ETFs as Repurchase Collateral

Jiaxin Wealth Management's money market fund disclosed on August 31 that shares of four XRP spot ETFs, Grayscale, Canary, Franklin, and Bitwise, were used as collateral for repurchase agreements. The total size of the repurchase agreement is nearly 4 billion US dollars, with counterparties being JPMorgan Securities and Bank of America Securities. The collateral size of XRP ETF increased from $36000 in April to $8.32 million in August. When lending cash from the Jiaxin Wealth Management Money Fund, the borrower uses a securities basket as collateral. (Source: Bitcoin.com)