Institutional interest in XRP exchange-traded funds is still growing, and these ETFS have already taken in more than $1.4 billion in cumulative inflows since launch. Interestingly, the latest regulatory disclosures reveal a surprising name sitting at the top of the list of investors. 

Goldman Sachs, one of Wall Street’s most influential investment banks, has quietly accumulated the largest known position in XRP ETFs, placing it ahead of hedge funds and crypto firms. The revelation comes as XRP ETF assets and inflows continue to grow, adding to the conversations about institutional exposure to XRP.

Goldman Sachs Appears As The Largest Known XRP ETF Holder

Regulatory disclosures have revealed a surprising name sitting at the top of the list of known institutional holders of Spot XRP ETFs. According to data compiled by Bloomberg Intelligence, Goldman Sachs currently holds the largest disclosed position in XRP ETFs among institutions required to report their holdings.

Filings show that Goldman Sachs holds roughly $153.8 million in XRP ETF exposure, representing around 83.6 million XRP worth of ETF shares. This puts the Wall Street giant well ahead of other institutional investors that have publicly disclosed their positions.

Behind Goldman Sachs, the next largest disclosed holders include Millennium Management, which holds more than $23 million in XRP ETF exposure, followed by firms such as Citadel Advisors and Logan Stone Capital, each with significantly smaller allocations. These figures come from 13F filings dated December 31, 2025, which provide details of institutional positions held at the end of the year.

According to Bloomberg Intelligence analyst James Seyffart, XRP ETF demand is still strong compared to the broader crypto market, which has been facing downward pressure since the beginning of the year. Notably, Bloomberg Intelligence data shows cumulative inflows into Spot XRP ETFs rising from roughly $150 million in mid-November 2025 to about $1.44 billion by March 4, 2026.

Cumulative Spot XRP ETF Flows. Source: @JSeyff On X

Most XRP ETF Buyers Are Still Unknown

Despite the insights provided by regulatory filings, the publicly disclosed holders represent only a fraction of the actual investor base behind XRP ETFs. Actually, the top 30 disclosed holders of Spot XRP ETF shares only collectively controlled about $211 million in positions at the time of the filings.

Many investors, including smaller funds, family offices, and retail participants, are not required to file 13F reports. As a result, the list of institutional holders revealed through filings captures only a small portion of the total ETF inflows.

Nonetheless, the presence of major firms like Goldman Sachs at the top of the known holder list is an interesting trend to look out for regarding the future of these Spot XRP ETFs. We could start to see more banking firms follow the same path as Goldman Sachs before the end of the year, and XRP ETFs could start playing a larger role in institutional crypto investments.

Featured image from Shutterstock, chart from TradingView

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