Bank of Montreal, one of Canada's largest financial institutions, disclosed positions in two XRP-related exchange-traded funds in a filing with the U.S. Securities and Exchange Commission. The move signals growing institutional interest in digital assets, even as XRP's price held steady this week.
What the filing reveals
The filing, made public this week, shows the bank holds shares in two ETFs that track XRP. The exact size of those positions wasn't disclosed, but the fact that a major bank is carrying XRP exposure through regulated investment vehicles is notable. SEC filings like this one are routine for publicly traded companies that hold securities, but they offer a rare glimpse into how traditional financial institutions are positioning themselves in crypto.
A steady week for XRP
XRP traded in the red this week, but the decline was minimal. The cryptocurrency has been rangebound for weeks, with investors waiting for a clear catalyst. The BMO disclosure didn't move the price much, but it adds to the narrative of institutional adoption. For a token often associated with retail speculation, this kind of quiet accumulation by a bank stands out.
Institutional appetite grows
The disclosure comes as traditional financial institutions increasingly use ETFs to gain exposure to digital assets. ETFs offer a familiar, regulated wrapper for clients who might be wary of holding cryptocurrencies directly. BMO's participation is a sign that demand for such products is broadening beyond retail investors. While other banks have dipped into Bitcoin and Ethereum funds, XRP-linked ETFs remain a smaller corner of the market, making this disclosure all the more striking.
What the filing means
For XRP, this is a small but meaningful step. Major banks don't typically hold speculative assets without reason. The move suggests that some institutional investors see XRP as a viable long-term asset, despite its legal battles and regulatory uncertainty. Whether other Canadian banks will follow BMO's lead is an open question. For now, the filing puts BMO among a select group of traditional financial institutions with direct XRP exposure.
