Jupiter Asset Management's compliance department reportedly flagged and then cancelled 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. Despite the firm initially investing over $2 million into the fund, it incurred a loss amounting to $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 1-year return of 31.7%, but it has declined by 13.2% in the past 6 months.
The AXRP follows 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.
