Key takeaways21Shares XRP ETP, known as AXRP, has crossed $140 million in assets under management (AUM).AXRP has increased by 113% in the last month and over 225% since its launch.XRP physically backs AXRP and offers investors exposure to the popular cryptocurrency.In a Monday X post, 21Shares announced that its XRP ETP, known as AXRP, has surpassed $140 million in assets under management (AUM). This marks a significant growth for the fund since its launch in April 2019.AXRP, which offers investors exposure to XRP, has seen increasing interest in recent months. 21Shares reported through its website that AXRP now holds $142 million in AUM as of Monday, a major boost for the fund.According to the report, the fund is traded on several major European exchanges, including the SIX Swiss Exchange and Euronext Paris.The growth in AUM indicates that more investors are turning to XRP through 21Shares investment product. This provides an alternative way to gain exposure to the cryptocurrency without directly buying and holding XRP.Impressive Performance of the FundThe net asset value (NAV) per unit of AXRP, as of November 18, stands at $32.92. In the past 30 days alone, the ETP has surged by 113%, showcasing a strong return for investors.Over the past three months, AXRP has grown by 95%, while year-to-date performance has seen the fund appreciate by nearly 98%.Since its inception, AXRP has gained a total of 225%, underscoring the impressive long-term performance of the fund. AXRPs success reflects broader market trends as investors increasingly seek out cryptocurrency-based investment products.The funds physical backing by XRP ensures that it holds actual XRP tokens, making it more appealing to investors who prefer more direct exposure to the asset.Its important to note that while AXRP is an exchange-traded product (ETP), its not the same as an exchange-traded fund (ETF).Growing Institutional Demand for XRPThe rapid growth of AXRP mirrors a broader trend of rising institutional interest in XRP. This shift comes amid increasing confidence in the regulatory landscape for cryptocurrency, especially in the United States.Many investors see regulatory clarity as key to XRPs future growth, and recent developments have sparked optimism.In addition, the election of pro-crypto Donald Trump has raised hopes that SEC Chair Gary Gensler could be replaced. This could lead to a favorable settlement in the long-standing Ripple vs. SEC case.If XRP gains further regulatory approval, it could attract even more institutional investors, fueling further growth for funds like AXRP.Further, 21Shares US entity has filed for an XRP spot ETF in the US. This move follows similar filings by other asset managers, including Bitwise and Canary, signaling that more financial institutions are looking to capitalize on the growing demand for XRP.Grayscale, another major player in the cryptocurrency investment space, may also be eyeing the market. In September, Grayscale launched its XRP Trust, and the company has a track record of converting trust products into ETFs.This growing interest from institutional players further solidifies XRPs place as one of the top cryptocurrencies in the market.Add Techreport to Your Google News Feed Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now! Subscribe now Rida is a dedicated crypto journalist with a passion for the latest developments in the cryptocurrency world. With a keen eye for detail and a commitment to thorough research, she delivers timely and insightful news articles that keep her readers informed about the rapidly evolving digital economy. View all articles by Rida Fatima Our editorial processThe Tech Reporteditorial policyis centered on providing helpful, accurate content that offers real value to our readers. We only work with experienced writers who have specific knowledge in the topics they cover, including latest developments in technology, online privacy, cryptocurrencies, software, and more. Our editorial policy ensures that each topic is researched and curated by our in-house editors. We maintain rigorous journalistic standards, and every article is 100% written byreal authors.