Jupiter Asset Management’s compliance department reportedly flagged and then canceled the Ripple XRP ETP purchase, resulting in a minor loss.
Jupiter Asset Management’s internal compliance team has reportedly revoked its investment in the 21Shares Ripple XRP exchange-traded product (ETP) due to regulatory issues in Ireland. The firm initially invested over $2 million into the fund, and it incurred a loss of $834.
According to a recent report from the Financial Times, Jupiter invested $2,571,504 into the 21Shares Ripple XRP ETP (AXRP) during the first half of 2023. However, the exact date of the initial investment wasn’t specified. Meanwhile, the ETP yielded a one-year return of 31.7%, but it has declined by 13.2% in the past six months.
The AXRP tracks the performance of XRP (XRP), having launched in March 2019. According to 21Shares website, the ETP has assets under management (AUM) totaling $50,497,518.
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Source: https://cointelegraph.com/news/jupiter-compliance-investment-ripple-xrp-etp