XRP ETFs Secure $170 Million Across Eleven Days as Goldman Leads Institutional Holdings

U.S. spot XRP exchange-traded funds have gathered new capital for 11 consecutive trading sessions, maintaining an upward sequence that has accumulated roughly $170 million despite XRP surrendering a portion of its late-August gains.

These products absorbed an additional $14.38 million on Tuesday, bringing total net inflows since their November debut to approximately $1.68 billion, according to metrics from SoSoValue. Franklin Templeton’s XRP vehicle topped Tuesday’s figures with $6.63 million, trailed by Grayscale at $4.72 million.

This positive run kicked off on August 18 and persisted through a period of high price volatility for XRP. The asset exchanged hands near $1.33 early Wednesday, down from about $1.45 on August 27, though remaining considerably higher than the $1 threshold observed in mid-August.

Even so, that figure remains modest compared to bitcoin. U.S. spot bitcoin funds brought in $2.26 billion during a span of just six sessions late in August, surpassing the entire total gathered by XRP ETFs since their inception.

Goldman Sachs emerged as the biggest disclosed institutional investor at the close of the second quarter, reporting roughly $87.4 million in exposure, based on Bloomberg Intelligence data drawn from 13F filings.

Although Goldman’s substantial ETF position might appear to represent an outright long-term directional bet by the institution, that conclusion is not guaranteed. Such balances can arise from market-making activities, basis trades, and servicing client demands through wealth management divisions, rather than an intentional corporate strategy to hold XRP.

Jane Street followed closely with $16.6 million alongside Millennium Management holding $16.2 million.

Form 13F submissions are quarterly disclosures detailing various domestic equities and funds owned by large asset managers. They supply a rare public glimpse into how professional entities utilize the emerging XRP ETFs, though they fail to indicate whether these same organizations are hedging their stakes elsewhere.

Financial advisers represented the dominant demographic among reported stakeholders, accounting for approximately $120 million of the $183 million visible across the submissions. Hedge funds maintained around $25 million, brokerages registered $17 million, and banking institutions held near $14 million.

Advisers likewise drove the majority of growth throughout the quarter, with their positions expanding by roughly $90 million out of a $103 million aggregate rise across every category.

Consequently, institutional stakes and the inflow streak reflect two different metrics. The regulatory paperwork documents asset ownership as of June 30, whereas the 11-day sequence monitors new capital entering the funds throughout late August and early September.

These records also illustrate gross ETF allocations rather than an investor’s comprehensive exposure to XRP—meaning Goldman, Jane Street, and Millennium can each maintain an XRP ETF position while offsetting part or all of their price exposure via futures contracts or alternative derivatives.

CoinDesk drew a comparable parallel regarding Goldman’s bitcoin ETF allocations in 2025, when upwards of $1.5 billion in reported spot ETF holdings existed alongside significant put options and related trades.

The current XRP rally sequence commenced two months subsequent to the period covered by those disclosures. Whether the specified institutions maintain those positions will remain unknown until the subsequent batch of reports arrives in November.