SEC filings reveal buyers of XRP ETFs

TLDR

Recent SEC 13F filings show major Wall Street firms quietly building sizable positions in spot XRP exchange-traded funds.

1. Goldman Sachs disclosed about $152153 million in XRP ETFs, roughly 14% of total net XRP ETF inflows over the past year.
2. Trading firm Jane Street and banks like JPMorgan and Bank of America also appear among key XRP ETF holders across multiple issuers.
3. These positions signal growing institutional comfort with XRP through ETFs, but flows can rotate quickly, so ETF inflows and future filings matter more than one quarters snapshot.

Deep Dive

1. Who The Big XRP ETF Buyers Are

Goldman Sachs latest Q4 2025 13F filing reports roughly $152 million in XRP ETF exposure, spread across Bitwise, Franklin, Grayscale and 21Shares XRP products, accounting for nearly 14% of net XRP ETF inflows over the year. U.Today details those positions across the four issuers in its Goldman disclosure.

Cointelegraph notes that the bank acquired about 6.95 million shares of XRP ETFs, worth around $152 million, while trimming some Bitcoin and Ether ETF exposure in the same quarter in its ETF flows coverage.

Separate reporting shows Jane Street Group holding tens of thousands of Bitwise XRP ETF shares plus sizable stakes in other XRP ETFs, ranking as the third largest holder of Bitwises fund after Goldman Sachs and Sloy Dahl & Holst, with JPMorgan in fourth place, according to Coingapes breakdown. Bank of America has also reported XRP ETF positions, though at smaller scale.

2. What This Means For XRP And Market Structure

Spot XRP ETFs have attracted more than 1.2 billion dollars of cumulative net inflows, with total XRP ETF assets around 1.01.2 billion dollars, per SoSoValue figures cited by U.Todays XRP ETF inflow analysis. That is still small versus Bitcoin ETFs but large for a single altcoin product set.

Bitcoinist highlights that these inflows continued during periods of price weakness and low retail interest, implying that institutions are using ETFs for gradual, regulated XRP allocation rather than short term speculation, as described in its XRP spot ETF review.

3. What To Watch Next

First, remember 13F filings are backward looking. They show positions as of quarter end, often with a delay of several weeks, so holdings may have changed since the reported date.

Going forward, the most useful signals will be:

1. Weekly net flows into the main XRP ETFs, which show whether institutional demand is growing or fading.
2. Future 13F filings to see if firms like Goldman, Jane Street, JPMorgan and Bank of America are adding, holding, or cutting XRP ETF exposure.
3. Rotation patterns across Bitcoin, Ether, XRP and Solana ETFs, since Cointelegraphs ETF rotation piece already shows Goldman reducing BTC and ETH ETF stakes while initiating XRP and SOL positions.

Conclusion

SEC filings now confirm that some of the largest Wall Street institutions are meaningful buyers of XRP, but almost entirely via spot ETFs rather than direct token holdings. Their positions strengthen XRPs institutional narrative and ETF market depth, yet they remain one part of a broader rotation across crypto assets. The next phase will be defined less by this initial disclosure and more by whether ETF inflows and future filings show sustained, growing allocations to XRP.