An exchange-traded fund (ETF) based on the virtual currency XRP issued by Ripple has strengthened the institutional investor base led by banking giant Goldman Sachs.
According to public records from the U.S. Securities and Exchange Commission (SEC), this financial institution is by far largest holder.
Goldman Sachs holds an exhibition $154 millionThat equates to more than 83.6 million shares of the XRP ETF, according to a report by James Seifert, ETF specialist at Bloomberg Intelligence.
The second-largest holder is hedge fund Millennium Management LLC, with $23 million in ETF shares. That’s a significant number, but much lower than Goldman’s.
It is also clear from the ownership structure of these financial products that there is a mix of speculative funds and long-term investments. By famous quantitative trading companies and hedge funds, In partnership with Citadel Advisors, Jane Street Group and DRW Securities.
Below is a data table reflecting the leading financial institutions that own shares in XRP-based ETFs.
These institutions’ participation in the ETF was announced through Form 13F in the final quarter of 2025. These agencies have mandatory quarterly reports. What managers with assets of $100 million or more must achieve Among the assets under management. Seyffart pointed out that only a small percentage of companies are known because the majority of companies do not offer this format.
So it’s a list like this: Highlighting the interest of large companies such as Goldman Sachsbut that does not reflect the majority of participants. Nevertheless, from the available data it is possible to identify a clear trend of constant growth, high interest from large investors, but a predominance of small investors.
Growing interest from retailers
For more information on Mr. Seifert, please visit XRP ETF raises total of $1.4 billion This number confirms the strong adoption by institutional investors despite the decline in XRP’s price.
The cryptocurrency’s price has fallen 54% in the past six months and is now down from as much as $3 to $1.3 per unit. In that sense, the movement of capital flows into the XRP ETF is showing resistance in contrast to the cryptocurrency’s price performance.
However, when comparing the XRP ETF to other financial products such as those linked to Bitcoin (BTC) and Solana (SOL), we observe different holding dynamics. Based on the 13F form, Mr. Seifert has his sights set on the four largest crypto asset ETF groups at the end of 2025.
First up is the Bitcoin ETF. These instruments have 2,338 holder And they have a large institutional base, where almost a quarter of their managed capital comes from companies that: Formally report to SEC.
For XRP, the product has 83 holderThis is similar to the 85 recorded by the Solana ETF. There are peculiarities in the distribution of capital in XRP. Only 15.9% of managed capital appears in 13F records.
As explained by analysts, the remaining 84.1% of the XRP ETF comes from investors who are not required to file Form 13F. These are small investors and high net worth individuals.
“Atypical dynamism”
Despite this low percentage of large institutional reports, the asset outperforms other direct competitors in total collections. It is worth noting that although the number of XRP ETFs is small (Solana has 6 ETFs), was able to accumulate more total capital. As of December 31st, it had grossed $1.342 billion, compared to Solana’s $1.108 billion.
This positive capital flow in a declining price environment has caught the attention of experts, including Bloomberg expert Eric Balciunas. This dynamism is unusual in an environment of high stock price declines..
This observation suggests that capital persistence is responsive to more structured financial strategies on the part of investors. The fact that XRP ETFs have withstood this downcycle shows that those who purchased these products maintain a deeper investment thesis.
