Goldman Sachs, Jane Street, and Millennium Management led $183.5 million in disclosed spot XRP ETF holdings from second-quarter 13F filings, with investment advisers accounting for the largest share of institutional exposure.
Back
Goldman Sachs tops $183.5M XRP ETF holdings after Q2 13F disclosures
Goldman Sachs Group led disclosed spot XRP ETF holders with $87.45 million, part of $183.5 million in institutional exposure revealed in second-quarter 13F filings.
The figures come from charts shared by James Seyffart, Bloomberg Intelligence ETF analyst, on Aug. 31, based on Form 13F filings submitted to the Securities and Exchange Commission.
Goldman's position represented approximately 84.05 million XRP, with the bank adding exposure equivalent to 83.15 million XRP during the quarter. Jane Street Group ranked second with $16.64 million in exposure representing nearly 16 million XRP, including an increase of roughly 13.57 million XRP. Millennium Management followed with $16.20 million tied to about 15.58 million XRP.
The disclosures mark the first full quarter of institutional ownership data for U.S. spot XRP ETFs since the products launched, and the category has continued to accumulate assets. The Bitwise XRP ETF crossed $500 million in assets nine months after launching, with about 362 million XRP valued at $507.5 million as of Sept. 3.
Investment advisers dominated the holder categories with $120.89 million in exposure representing approximately 116.20 million XRP, adding the equivalent of 90.64 million XRP during the quarter. Hedge fund managers ranked second with $25.08 million tied to 24.11 million XRP, an increase of 3.09 million XRP. Brokerages held $17.85 million representing 17.16 million XRP after adding exposure equivalent to 12.60 million tokens.
Banks reported $14.83 million tied to 14.25 million XRP, with their equivalent exposure increasing by 32,509 XRP. Private equity firms held $3.41 million representing 3.28 million XRP, an increase of 1.34 million XRP. Combined equivalent XRP exposure across all categories rose by 103.37 million during the quarter.
Other second-quarter filings showed JPMorgan adding positions in Bitwise and Grayscale XRP funds, although its reported stakes remained small compared with the firms leading Bloomberg Intelligence's rankings. U.S. spot XRP ETFs held approximately $1.48 billion in combined net assets on Sept. 4, when the funds recorded no net inflows or outflows. Cumulative net inflows remained near $1.68 billion, according to SoSoValue data.
Form 13F filings disclose certain securities controlled by institutional investment managers overseeing at least $100 million in qualifying assets. The data cover ETF shares rather than tokens held directly, and the positions can support market-making, arbitrage, hedging, or portfolio-management activity. An ETF provides indirect exposure through exchange-traded shares without transferring ownership of the underlying cryptocurrency to each shareholder.
U.S. products providing spot XRP exposure include Canary Capital's XRPC, Franklin Templeton's XRPZ, Grayscale's GXRP, 21Shares' TOXR, and REX-Osprey's XRPR. The funds differ in fees, liquidity, custody arrangements, and legal structures while providing XRP exposure through brokerage accounts.
The concentration of holdings among investment advisers and hedge funds suggests the ETF wrapper is drawing traditional finance allocators into XRP exposure through regulated vehicles, a channel that did not exist before the funds launched. The category's largest products have continued accumulating assets alongside changes in XRP's market value.
This article is for informational purposes only and does not constitute investment advice.
