Goldman Sachs, Jane Street, and Millennium Management led institutional investors in disclosed spot XRP exchange-traded fund holdings during the second quarter, according to Form 13F filings reviewed by Bloomberg Intelligence.
Known filers held $183.5 million in combined XRP ETF exposure as of June 30, representing approximately 176.4 million XRP through publicly traded fund shares. Goldman Sachs ranked first with $87.45 million in exposure, equivalent to roughly 84.05 million XRP. The firm added exposure of approximately 83.15 million XRP during the quarter.
Jane Street Group held $16.64 million in XRP ETF exposure, representing nearly 16 million XRP, while Millennium Management followed with $16.20 million tied to about 15.58 million XRP. Other significant holders included Intesa Sanpaolo at $14.42 million, Marex UK Holdings at $8.12 million, and Ironbridge Private Wealth at $6.10 million.
Investor Categories and Distribution
Investment advisers dominated XRP ETF holdings by category, accounting for $120.89 million in exposure representing approximately 116.20 million XRP. Their combined equivalent XRP exposure increased by 90.64 million during the quarter.
Hedge fund managers held $25.08 million tied to 24.11 million XRP, brokerages held $17.85 million representing 17.16 million XRP, and banks reported $14.83 million tied to 14.25 million XRP. Private equity firms held $3.41 million representing 3.28 million XRP, while holding companies, trusts, and corporations comprised smaller positions.
Market Context
Form 13F filings disclose securities controlled by institutional investment managers overseeing at least $100 million in qualifying assets. The reported data reflect ETF shares rather than direct token ownership, and positions may support market-making, arbitrage, hedging, or portfolio-management activities.
U.S. spot XRP ETFs held approximately $1.48 billion in combined net assets as of early September. Available products include offerings from Franklin Templeton, Bitwise, Grayscale, Canary Capital, 21Shares, and REX-Osprey, each featuring different fee structures, liquidity arrangements, and custody terms.
