Goldman Sachs Leads XRP ETFs With Nearly 5 Times Jane Street

Goldman Sachs Leads Jane Street In XRP ETF Holdings

19h24 ▪5min read ▪ byLuc Jose A.
Getting informed▪AltcoinsSummarize this article with:

Among declared institutional holders of XRP ETFs in the second quarter of the year, Goldman Sachs held first place. The banking institution thus showed an exposure of 87.45 million dollars as of June 30, far ahead of Jane Street and Millennium Management. In total, the identified banks held 183.5 million dollars in shares. These figures attest to the integration of XRP products on Wall Street, without necessarily showing that these companies directly anticipate a rise in the crypto.

In Brief

• Goldman Sachs dominates institutional positions with 87.45 million dollars of declared XRP ETFs.
• Jane Street and Millennium Management complete the podium, far behind the American bank.
• 13F declarations do not prove a bullish bet by institutions on XRP.
• XRP ETFs continue their growth, with nearly 1.48 billion dollars in net assets.
• Institutional positions remain a minority, representing about 12.4% of XRP ETF net assets.

Goldman Concentrates Nearly Half of Known Positions

While flows into XRP ETFs reach a historic record, the statistics come from 13F forms. These declarations allow the census of various positions held by U.S. managers that oversee at least 100 million dollars of eligible assets.

Goldman Sachs controlled an exposure corresponding to nearly 80.05 million XRP. The banking institution allegedly added the equivalent of 83.15 million tokens during the quarter, according to provided data.

The ranking of the top five banks reveals the lead taken by Goldman Sachs :

• Goldman Sachs held 87.45 million dollars of XRP ETF shares ;
• Jane Street was second with 16.64 million dollars ;
• Millennium Management followed with 16.20 million dollars ;
• Intesa Sanpaolo declared an exposure of 14.42 million dollars ;
• Marex UK Holdings completed the group with 8.12 million dollars.

Thus, Goldman Sachs held about 48% of the 183.47 million dollars declared. The top three companies concentrated nearly 120.3 million dollars, or about two-thirds of the total under census.

Consequently, investment advisors dominated various categories with 120.89 million dollars. They had outpaced hedge fund managers, who held 25.08 million. Brokerage firms and banks reported 17.85 and 14.83 million dollars respectively.

NEW: Who are the top holders of spot ripple:native ETFs? Here's the data as of the Q2 13F Filings. Goldman, Jane and Millennium top the list. pic.twitter.com/SsL0BuM1oq

— James Seyffart (@JSeyff) August 31, 2026

James Seyffart, analyst at Bloomberg Intelligence, specified:

Who are the main holders of spot XRP ETFs? Here is data from 13F declarations of the second quarter. Goldman, Jane Street, and Millennium are at the top.

Declarations Do Not Prove a Bullish Bet on XRP

The form filed by Goldman Sachs with the SEC encompasses positions held as of June 30. Published on August 14, this data shows the real situation of the banking institution’s holdings.

Banks report on ETF shares, not XRP tokens held directly in their wallets. Managers do not obtain individual ownership of tokens held by the fund either.

It is worth noting that these positions serve various purposes. A bank may acquire shares for its clients, facilitate transfers, or engage in arbitrage. A company like Jane Street may also act as a market maker.

13F forms do not cover all hedges. A bank may hold XRP ETF shares while decreasing its risk through futures, options, or other instruments.

Goldman Sachs’ 87.45 million dollars cannot therefore be presented as a recent XRP acquisition. They do not demonstrate that the bank still holds this exposure either. Upcoming declarations, expected in November, will indicate the progression of these positions.

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Institutional Capital Remains a Minority in ETFs

XRP ETFs held nearly 1.48 billion dollars in net assets as of September 4. Indeed, their cumulative net inflows reached approximately 1.68 billion dollars

The 183.47 million dollars visible in institutional declarations represent about 12.4% of net assets. Most holders therefore do not appear in the ranking. Thus, individual investors and institutions not subject to the 13F form complete the bulk of the market.

Flows also increased after the dates covered by the declarations. From August 18, the ETFs recorded eleven consecutive positive sessions. This series captured nearly 170 million dollars.

On September 3, the products again collected 6.14 million dollars. Franklin Templeton led the session with 3.19 million dollars, ahead of Bitwise and its 2.95 million dollars. Afterward, there were no flows on September 4.

The presence of Goldman Sachs, Jane Street, and Millennium certifies that XRP ETFs are now used by major financial players. It represents a signal of adoption of regulated products, but not yet proof of a sustainable bullish conviction on XRP.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d’une certification consultant blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse objective de l’actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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