Ripple is a bitcoin exchange company that is one of the most active bitcoin exchanges in the world.
According to a report from Reuters, the company has more than $2 billion in sales.
Ripple is one company that was able to successfully launch a bitcoin ETF, which was the first bitcoin ETF to go live in early 2018.
The company has also been working on a bitcoin hedge fund that is expected to launch later this year.
Ripples is reportedly looking to invest $50 million into its hedge fund, and according to Reuters it has a valuation of $8 billion.
The news comes just one week after it was reported that Ripple CEO Brad Garlinghouse was arrested on tax evasion charges.
Ripple said it had no comment on the news.