Four spot XRP ETF shares from Grayscale, Canary, Franklin, and Bitwise were disclosed as collateral in repurchase agreements held by a Schwab money market fund as of August 31. The repo agreements totaled nearly $4 billion and involved JPMorgan Securities and Bank of America Securities as counterparties. XRP ETF collateral rose from $36,000 in April to $8.32 million in August, an increase of roughly 20 times, marking the first month that all four major U.S. spot XRP ETFs appeared together in repo collateral. The Schwab money fund did not directly purchase XRP ETFs. The shares were included in securities baskets pledged by borrowers when the fund lent cash through repurchase agreements.