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Ripple’s TradFi Ambitions Grow with Wall Street Financing and Korea Deal

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Ripple Prime has begun financing leveraged ETFs and total return swap activity after Ripple’s $1.25 billion acquisition of Hidden Road. The business ties Ripple to funds and products linked to U.S. stocks and market indexes, including Nvidia, Sandisk, and broader index exposure, in a market long handled by banks and securities firms.

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Key claims & sources

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Ripple’s $1.25 billion purchase of Hidden Road was followed by the rebrand of that business as Ripple Prime.
Ripple’s TradFi Ambitions Grow with Wall Street Financing and Korea Deal
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Ripple Prime has taken on swap-financing work for leveraged ETF issuers, a role that places it in a market previously dominated by banks and securities firms.
Ripple Emerges as Major Wall Street Threat
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Ripple Prime is financing funds tied to Nvidia, Sandisk, and major indexes through total return swaps.
Ripple Enters Leveraged ETF Financing With U.S. Stock Exposure
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Ripple’s institutional brokerage arm is described as entering prime brokerage and earning fees from that activity after the Hidden Road acquisition.
Ripple now earns prime brokerage fees after $1.25 billion Hidden Road deal
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Ripple Prime’s platform now offers institutional clients exposure to U.S.-listed equities, indices, and digital assets.
Ripple Prime Launches Delta One Business With Total Return Swaps
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That financing business is part of a leveraged ETF market that Morningstar Direct data puts at 593 ETFs managing more than $256 billion in the U.S.
Ripple’s $1.25B Hidden Road Deal Opens Leveraged Stock Bet Financing

What it means

This affects leveraged ETF issuers and the institutions that provide them financing, because Ripple Prime is now in that workflow and the business is being described as a competitor to banks and securities firms. Tomorrow morning, firms that trade or lend around these products will see Ripple as a new counterparty in the same market.

Before this, the financing and swap business around leveraged ETFs was tied to banks and securities firms; now Ripple Prime is named as a provider in that space, and its platform also offers exposure to U.S.-listed equities, indices, and digital assets. What stays the same is that the products still use swap structures and still reference stocks and indexes, even as the provider set changes.

Market reaction i

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Coverage timeline

Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.

first
Oct 8 03:40
Crypto News Australia scoop
Breaks the event: $368B
+1 h 48 m
Oct 8 05:28
U.Today context
Its angle: challenger, lucrative, emerges
+2 h 36 m
Oct 8 06:17
CoinDesk context
Its angle: amplified, wednesday, supplying; with quotes
+3 h 36 m
Oct 8 07:16
crypto.news echo
No new facts: performance, challenges, investment; with quotes
+4 h 40 m
Oct 8 08:20
Coinpedia echo
No new facts: coinpedia, payment, serious
+6 h 54 m
Oct 8 10:34
Crypto Briefing echo
No new facts: significantly, integration, traditional
+9 h 56 m
Oct 8 13:36
Crypto Economy echo
No new facts: specializing, transactions, historically; with quotes

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