[Ripple Enters Wall Street Leveraged Financing: Funding Leveraged ETFs for NVIDIA, SanDisk, and Others, Expanding into Traditional Banking Business] BlockBeats News, October 8: Ripple is entering the leveraged stock financing market through its Prime brokerage business, Ripple Prime, providing financing services for leveraged ETFs betting on individual stocks like NVIDIA, SanDisk, and major indices. This marks Ripple's entry into a business area traditionally dominated by large banks and securities firms. In 2025, Ripple acquired multi-asset Prime broker Hidden Road for $1.25 billion, gaining capabilities in clearing, financing, and trading across markets such as equities, bonds, foreign exchange, and digital assets. Ripple Prime currently offers funds leveraged exposure through Total Return Swaps (TRS) and charges financing fees in return. For example, the Tradr 2X Long SNDK Daily ETF pays Ripple an overnight bank financing rate plus 4 percentage points, which translates to an annualized financing cost of approximately 8% at current rates, excluding ETF management fees. According to Morningstar Direct data, there are currently 593 leveraged ETFs in the U.S. market, managing over $256 billion in assets, with 426 of them tracking individual stocks. As banks face stricter capital and risk regulations, non-bank institutions like Ripple Prime, Jane Street, and Clear Street are gaining more market share. In August this year, Ripple launched its Delta One business, offering Total Return Swap products tied to U.S. equities, indices, and digital assets, and disclosed regulatory net capital exceeding $1 billion. Ripple has not yet disclosed specific revenue figures for its leveraged ETF financing business or clarified how much of the business involves the use of XRP or the XRP Ledger. [Original Link]