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Investment advisers emerge as largest XRP ETF holders as inflows near $1.8 billion

Second-quarter 13F filings reveal investment advisers account for the bulk of spot XRP ETF holdings, with Goldman Sachs leading individual firms at roughly $87.4 million.
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Investment advisers emerge as largest XRP ETF holders as inflows near $1.8 billion

Spot XRP exchange-traded funds have attracted approximately $1.6 billion in net inflows since launch, with Bloomberg ETF analyst James Seyffart placing the figure closer to $1.8 billion based on his own calculations. The streak extended to nine consecutive trading days through August 28, during which the funds pulled in more than $725 million.

Inflow momentum persists despite mixed price action

Daily inflows ranged from roughly $2.4 million to over $28 million during the nine-day window. The run stood in contrast to Bitcoin spot ETFs, which ended their own nine-day streak during the same period. XRP was trading at around $1.35, down 2.44% on the day and 7.07% on the week, according to CoinGecko data.

Seyffart described the flow pattern as surprisingly resilient, noting that capital moved in only one direction and calling the performance particularly impressive when compared against XRP's price over the same timeframe.

13F filings show advisers dominate holdings

Second-quarter 13F regulatory filings indicate that investment advisers are the largest category of XRP ETF holders and allocators, far ahead of hedge funds and brokerages. The composition suggests the majority of assets sit inside buy-and-hold client portfolios rather than active trading books.

Among individual firms, Goldman Sachs holds the most spot XRP ETF exposure at approximately $87.4 million. Jane Street and Millennium Management follow, each holding roughly $16.6 million.

Launch history and regulatory backdrop

US spot XRP ETFs began trading on November 13, launched via Canary Capital's XRPC. By mid-December, the group of funds had accumulated about $1.18 billion in assets after 30 consecutive days of inflows.

The regulatory path to approval was cleared in August 2025 when Ripple and the US Securities and Exchange Commission dropped their respective appeals, leaving a $125 million penalty standing. The penalty was originally imposed by Judge Analisa Torres after her 2023 ruling that XRP had been sold as an unregistered security to institutional buyers.

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