Charles Schwab expands crypto access and reports XRP ETF collateral

Charles Schwab is expanding its involvement in the digital asset market through both institutional collateral arrangements and increased retail access.

A regulatory filing with the U.S. Securities and Exchange Commission reveals that the Schwab Prime Advantage Money Fund reported approximately $1.01 million in Grayscale XRP Trust ETF shares as collateral. Additional filings show roughly $3.06 million in Canary XRP ETF shares and $702,000 in Franklin XRP ETF shares being used as collateral, totaling nearly $4.8 million in XRP ETF-linked positions. These disclosures indicate that XRP ETF shares are entering institutional collateral arrangements.

Simultaneously, the brokerage has expanded its retail crypto trading services. Following an initial rollout limited to Bitcoin and Ethereum, Schwab has added Solana (SOL), Avalanche (AVAX), and Chainlink (LINK) to its platform. This expansion provides its 39 million retail client accounts with direct exposure to these additional blockchain ecosystems and infrastructure protocols.