Goldman Sachs Becomes Largest Spot XRP ETF Holder

Goldman Sachs held $87.4 million in spot XRP ETF exposure at the end of the second quarter, the largest position among institutional investors disclosed in Form 13F filings with the U.S. Securities and Exchange Commission (SEC). Bloomberg Intelligence compiled the data from filings covering holdings as of June 30, 2026.

The disclosure marks a sharp shift from the prior quarter. Goldman Sachs held about $4.3 million in XRP ETF exposure at that point, according to Bloomberg-derived figures, meaning its position grew by roughly $83.1 million between quarters, an increase of about twentyfold.

Goldman built its position across multiple issuers, including Bitwise, Franklin Templeton, Canary Capital, 21Shares, and Grayscale. The bank's holdings are equivalent to more than 84 million XRP tokens.

Jane Street Group ranked second with $16.6 million in exposure, followed by Millennium Management at $16.2 million. Intesa Sanpaolo held $14.4 million, and Marex UK Holdings rounded out the top five with $8.1 million. Combined, the top five holders accounted for well over $140 million in disclosed exposure.

Bloomberg ETF analyst James Seyffart shared the compiled rankings on August 31, 2026. His data grouped holders by category, with investment advisors accounting for $120.9 million of the total disclosed exposure, ahead of banks, brokerages, and hedge fund managers combined.

Not every firm added to its position. Citadel Advisors reduced its XRP exposure by $645,000 over the quarter, while SIG Holdings cut its position by approximately $4.6 million, the steepest reduction among the disclosed holders. The shift comes months after spot Bitcoin ETFs posted a record $4.5 billion monthly outflow in June, a reminder that institutional flows into crypto ETFs can move quickly in either direction.

The filings cover 13 spot XRP ETFs that have launched in the United States since late 2025. Cumulative net inflows into these products have reached about $1.8 billion since launch, according to Seyffart's tracking.

The rankings arrive as XRP has pulled back from its August highs. The token traded near $1.37 in early September, with traders watching the $1.35 to $1.38 range as a key support zone. A break below that level could open the door to further declines, while a move back above $1.43 would mark a retest of a level where the price was previously rejected.

Separately, Ripple's dollar-pegged stablecoin RLUSD surpassed $2 billion in market capitalization this month, with more than $1 billion of that total issued directly on the XRP Ledger. The milestone lands as stablecoins increasingly function as settlement infrastructure rather than just a trading tool.

Form 13F filings disclose only long positions in US-listed securities as of a single reporting date. They do not indicate whether institutions plan to hold, add to, or exit their positions in future quarters.