Ripple, through its Ripple Prime division, is entering the U.S. leveraged ETF financing market, a sector with 593 funds representing over $256 billion in assets. The expansion builds on the $1.25 billion acquisition of Hidden Road in 2025, rebranded as Ripple Prime, which provides total-return swaps to fund managers. The company announced brokerage, clearing, and financing services for hedge fund Brevan Howard on October 6, illustrating its strategy to penetrate traditional institutional markets. Financing for these products is priced at the overnight bank funding rate plus four percentage points, translating to approximately 8% annualized for an example fund. Despite this strategic move, XRP trades around $1.41 with no positive market reaction, leaving the near-term price impact limited.
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