There is a growing interest in XRP exchange-traded funds among institutional investors, with these ETFs attracting over $1.4 billion in inflows since their launch. Of note, recent regulatory disclosures have unveiled a surprising top investor in the form of Goldman Sachs.
Goldman Sachs, a prominent Wall Street investment bank, has quietly amassed the largest disclosed position in XRP ETFs, surpassing hedge funds and crypto companies. This revelation comes amidst the continuous growth of XRP ETF assets and inflows, sparking discussions about institutional exposure to XRP.
Goldman Sachs Emerges as Leading XRP ETF Holder
Recent regulatory disclosures have highlighted Goldman Sachs as the leading known institutional holder of Spot XRP ETFs. Data compiled by Bloomberg Intelligence shows that Goldman Sachs currently holds the largest disclosed XRP ETF position among institutions mandated to report their holdings.
Filings indicate that Goldman Sachs holds approximately $153.8 million in XRP ETF exposure, equivalent to around 83.6 million XRP in ETF shares. This places the Wall Street giant ahead of other institutional investors who have publicly disclosed their positions.
Following Goldman Sachs, other disclosed major holders include Millennium Management with over $23 million in XRP ETF exposure, as well as Citadel Advisors and Logan Stone Capital with smaller allocations. These figures are based on 13F filings as of December 31, 2025, which detail institutional positions at year-end.
According to James Seyffart, an analyst at Bloomberg Intelligence, demand for XRP ETFs remains robust compared to the broader crypto market, which has been under pressure since the start of the year. Data from Bloomberg Intelligence shows cumulative inflows into Spot XRP ETFs rising from around $150 million in mid-November 2025 to about $1.44 billion by March 4, 2026.
Cumulative Spot XRP ETF Flows. Source: @JSeyff On X
Many XRP ETF Buyers Remain Unidentified
While regulatory filings offer insights, publicly disclosed holders represent only a fraction of the total investor base behind XRP ETFs. The top 30 disclosed holders of Spot XRP ETF shares collectively controlled about $211 million in positions at the time of the filings.
Numerous investors, including smaller funds, family offices, and retail participants, are not obligated to file 13F reports. Consequently, the list of institutional holders disclosed through filings captures only a small portion of the overall ETF inflows.
Nevertheless, the presence of major players like Goldman Sachs at the forefront of known holders is a noteworthy trend that could shape the future of Spot XRP ETFs. It is possible that more banking institutions will follow Goldman Sachs’ lead before the year ends, potentially making XRP ETFs a more significant component of institutional crypto investments.
Featured image from Shutterstock, chart from TradingView
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