XRP ETFs draw $170 million amid sustained inflows
U.S. spot XRP ETFs have recorded net inflows for 11 consecutive trading sessions. Over that period, the funds attracted about $170 million even as the price of XRP pulled back from its late-August highs.
As CoinDesk reports, Tuesday brought another $14.38 million in net inflows, according to SoSoValue data. Since the funds launched last November, cumulative net inflows have reached about $1.68 billion. Franklin Templeton’s XRP fund led the day with $6.63 million, followed by Grayscale with $4.72 million.
The inflow streak began on August 18. Early Wednesday, XRP was trading at around $1.33, compared with roughly $1.45 on August 27. In mid-August, the token was trading near $1.
Compared with Bitcoin ETFs, however, these figures remain relatively modest. U.S. spot Bitcoin funds attracted $2.26 billion over just six trading sessions in late August — more than XRP ETFs have received since their launch.
Goldman Sachs emerged as the largest institutional holder
According to Bloomberg Intelligence, Goldman Sachs was the largest disclosed institutional holder of XRP ETFs at the end of the second quarter. Its position was valued at about $87.4 million.
However, that does not necessarily mean the bank made a long-term bet on XRP. Such positions may be related to market-making, arbitrage strategies or the execution of orders for wealth management clients. Financial firms may also hedge their exposure through futures and other instruments.
Goldman Sachs was followed by Jane Street with $16.6 million in holdings and Millennium Management with $16.2 million. In total, about $183 million in XRP ETF positions were disclosed in the filings.
Investment advisers were the largest category of holders, accounting for around $120 million. Hedge funds held roughly $25 million, brokerages $17 million, and banks about $14 million.
At the same time, 13F filings and current ETF inflows measure different things. The filings show institutional positions as of June 30, while the current inflow streak began only in the second half of August. Whether Goldman Sachs, Jane Street and Millennium Management still hold those positions will only become clear after the next round of filings is released in November.
Why money is flowing into XRP ETFs now
The inflows have coincided with a recovery in XRP itself. The token traded at around $1 in mid-August before climbing to about $1.45 by August 27. Even after pulling back to $1.33, the price remained well above levels seen two weeks earlier. Against that backdrop, investors may be using ETFs as a simple way to gain exposure to XRP through a traditional brokerage account without buying the token on a crypto exchange or managing custody themselves.
Institutional participation is also supporting demand. Second-quarter filings showed Goldman Sachs holding about $87.4 million in XRP ETFs, Jane Street $16.6 million and Millennium Management $16.2 million. These positions do not necessarily represent outright bets on further XRP gains, as some may be tied to market-making, arbitrage or client activity. Still, the presence of large banks, funds and investment advisers improves liquidity and makes the product more familiar to professional investors.
Earlier, the first XRP ETF was launched back in 2025.
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