The 21Shares Ripple XRP Exchange-Traded Product (ETP) has demonstrated impressive growth, boasting $50.4 million in assets under management (AUM) and a Net Asset Value (NAV) currently standing at $16.45. Launched in April 2019, the ETP, known as AXRP, has consistently outperformed major indexes such as the S&P 500 and the Euro Stoxx, reflecting strong investor confidence.

Contrary to a misconception, it's clarified that the 21Shares XRP ETP listed on Fidelity’s platform is not a product launched by Fidelity but a standalone ETP directly tracking the performance of XRP, the sixth-largest cryptocurrency by market capitalization.

The key metrics of the 21Shares XRP ETP further highlight its performance. Currently holding 3,065,000 outstanding securities, this metric signifies the total number of shares available in the market. The ETP's AUM is influenced by XRP's price movements and activities of authorized participants who can create or redeem shares. Meanwhile, XRP itself has recently traded at $0.6164, marking a more than 10% increase in the past 24 hours.

In a separate development, David Schwartz, Ripple’s CTO, has expressed skepticism about the company's decision in 2017 to lock 55 billion XRP in escrow. This decision, aimed at managing XRP’s supply in the market, has sparked discussions within the XRP community regarding Ripple’s strategy and the potential impact of the escrow on the cryptocurrency’s value.

As the 21Shares XRP ETP continues to attract investor attention, it also prompts contemplation about the future of cryptocurrency-based investment products in regulated markets. The ETP's performance, coupled with ongoing discussions around Ripple’s escrow strategy, indicates a maturing cryptocurrency market that combines innovative investment products with traditional financial principles.