Ripple has expanded its presence on Wall Street by providing swap financing services through its Ripple Prime platform, formerly Hidden Road, acquired for $1.25 billion. The company signed a prime brokerage agreement with hedge fund Brevan Howard in October. The US leveraged ETF market comprises 593 funds representing over $256 billion in assets, with 426 being single-stock funds. A concrete example shows that the Tradr 2X Long SDNK fund pays Ripple a fee equivalent to approximately 8% of assets on an annualized basis, a particularly profitable rate for this activity traditionally dominated by banks.
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