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Bitwise hedged 97.48% of its XRP position with futures

Verifying
  • Bitwise held 10.78M XRP and shorted futures against 10.51M XRP.
  • 97.48% was hedged; September futures traded 0.91% above spot, implying 14.57% annualized yield.
  • Bitwise targeted the spread rather than XRP’s upside.
XRP
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