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Xrp and related etfs, xrpc et al

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 MY friend researches and follows all the crypto things.  Holds several types of. Crypto,  is heavily invested in it and has done very well. He loves xrp, has gone to Las  Vegas and met those people, believes in their ledger, et .  I bought xrpc this morning as the etf was well below its initial offering price. Did well for this first day. Might take a quick profit on some of it, and hold for what some believe will be a huge rise. I hold it in my traditional and Roth iras

What is the mNAV? If over 1 then why not just hold the underlying asset?

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7 hours ago, malathione said:

What is the mNAV? If over 1 then why not just hold the underlying asset?

I don't hold the underlying asset because that would require using an exchange, wallet etc.which i do not want to do. Just my choice 

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