Ripple has entered the leveraged stock financing market through its Prime brokerage business, Ripple Prime, providing financing services for leveraged ETFs such as Nvidia and SanDisk. Ripple acquired Hidden Road for $1.25 billion in 2025, gaining liquidation and financing capabilities. Ripple Prime provides leverage exposure to funds through total return swaps and charges fees. There are currently 593 leveraged ETFs in the US market, with assets under management exceeding $256 billion. Ripple launched its Delta One business in August this year, with regulatory net capital exceeding $1 billion.
