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Post: Jupiter Asset Management’s Compliance Department Halts Ripple XRP ETP Purchase

Jupiter Asset Management’s Compliance Department Halts Ripple XRP ETP Purchase

Key Points:

  • Jupiter Asset Management’s compliance department canceled a Ripple XRP ETP purchase.
  • The cancellation led to a minor loss of $834 for Jupiter Asset Management.
  • Jupiter initially invested over $2 million in the 21Shares Ripple XRP ETP.
  • The ETP saw a 1-year return of 31.7% but declined by 13.2% in the past 6 months.
  • The 21Shares Ripple XRP ETP (AXRP) follows the performance of XRP and launched in March 2019.
  • The ETP has assets under management totaling $50,497,518.

Compliance Department Cancels Ripple XRP ETP Purchase:

Jupiter Asset Management faced a setback as its compliance department flagged and subsequently canceled the firm’s investment in the Ripple XRP exchange-traded product (ETP).

Minor Loss Incurred:

Although Jupiter Asset Management initially invested a significant amount exceeding $2 million in the 21Shares Ripple XRP ETP, the cancellation resulted in a minor loss of $834 for the firm.

ETP Performance and Decline:

Despite a promising 1-year return of 31.7%, the 21Shares Ripple XRP ETP experienced a decline of 13.2% in the past 6 months, contributing to the minor loss incurred by Jupiter Asset Management.

About 21Shares Ripple XRP ETP:

The 21Shares Ripple XRP ETP (AXRP) mirrors the performance of XRP and was launched in March 2019. With assets under management totaling $50,497,518, it offers exposure to the movements of XRP in the market.

Hot Take

Compliance plays a crucial role in the investment landscape, ensuring adherence to regulations and guidelines. Jupiter Asset Management’s experience highlights the significance of compliance reviews in mitigating risks and making informed investment decisions, even if it leads to minor losses in certain instances.

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