BNY Adds XRP to Custody Platform as Bitwise ETF Posts $3.61M Outflow
Published on 10/27/2026 at 16:30 | Editorial boerse-global.de
Bank of New York Mellon has widened the scope of its digital-asset custody business to cover XRP and RLUSD, Ripple said in a joint announcement with the bank. The service is reserved for eligible institutional clients — a restricted rollout rather than an offering open to all investors. XRP traded at 1.31 USD at the time of the announcement.
The distinction matters for anyone reading the news as a broad endorsement of the token. BNY is explicitly supporting XRP itself, not merely an application built on the XRP Ledger. Ripple and BNY are separately examining options for tokenized trade finance, a further field of application that remains under review rather than a confirmed launch. Two different stages of progress sit side by side: custody support is announced, while the additional business line is still being explored.
Ripple's Other Projects Run on RLUSD
A separate initiative unveiled the same day underscores the gap between ledger activity and demand for the token. Ripple and C2FO plan to move financing and settlement activity for C2FO Instant Pay onto the XRP Ledger, with RLUSD designated for settlement. The announcement describes no new settlement role for XRP.
The final approval granted to Ripple National Trust Bank a day earlier points in a similar direction. According to Ripple, the bank will offer institutional crypto custody and support management of RLUSD reserves. No new function for XRP was part of that communication.
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Thursday brought yet another application project, this one from Arf and Ripple. Licensed cross-border payment firms are to receive short-term working capital in RLUSD on the XRP Ledger. Arf says the financing is typically drawn and repaid while payments are being settled. The initial phase uses RLUSD directly on the ledger — again a named financing use case, not an announced investment in XRP.
Aviva Brings a Tokenized Share Class On-Chain
Ripple also reported yesterday the launch of a tokenized share class of Aviva Investors' Sterling Liquidity Fund on the XRP Ledger. Aviva invested 50 million pounds in the new class, while the underlying fund manages roughly 22 billion pounds.
Fund assets and tokenized volume are not the same thing. The entire fund was not moved onto the ledger; the new share class and Aviva's investment define the actual scale of the rollout. No equivalent purchase of XRP can be inferred from it.
Fund Flows Send a Mixed Message
US spot ETFs on XRP have been erratic. Media reports put net inflows at 4.3 million USD between October 19 and last Thursday, followed by a Friday with neither net inflows nor outflows. Today, by contrast, the products recorded net outflows of 3.61 million USD, all of them from Bitwise's fund. Earlier, weekly net redemptions had ended a longer streak of inflows. A single day's figure does not establish a lasting trend.
XRP changed hands at 1.30 USD in the latest reading. The price reflects the market for the token, while the ETF data describe capital moving within a narrowly defined product segment. Neither should be conflated with the volume of new applications on the ledger.
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Ledger Upgrade Still Waiting on Validators
One technical change to the XRP Ledger remains pending. According to media reports, activation of fixCleanup3_4_0 was pushed back after validator support fell below the required threshold. The expected date is now November 4 at 14:46 UTC, provided support holds; the approval countdown runs 14 days.
Taken together, the picture is uneven. The ledger is picking up concrete new applications, and BNY's custody platform now gives institutions a direct route to the token. Today's ETF outflows show that such progress does not automatically translate into fresh money for XRP investment products.
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