Jane Street Group held more than 1.2 million shares of the Bitwise XRP ETF as of June 30, a massive leap from the 20,605 shares it reported three months earlier. The trading firm's position, disclosed in a quarterly filing, makes it one of the largest institutional holders of the fund, which launched in November and has since become the biggest XRP ETF on the market.
A Spot ETF With a Different Setup
The Bitwise XRP ETF is a spot ETF, meaning it holds XRP directly. That sets it apart from other XRP-linked funds that track the altcoin through derivatives or other structures. The distinction appears to be drawing in investors who want direct exposure to the token without holding it themselves.
Jane Street's jump from 20,605 shares to over 1.2 million shares in a single quarter signals a notable shift in appetite. The firm also reported exposure to XRP ETFs from Franklin Templeton, Grayscale, Canary Capital, and 21Shares, though the Bitwise position dwarfs the others.
Banks and Money Managers Line Up
Jane Street isn't alone. Bank of America disclosed 13,260 shares of the Volatility Shares XRP ETF, worth about $76,000. That fund, unlike Bitwise's, is not a spot ETF.
Morgan Stanley reported positions in three XRP-related funds: 6,715 shares of Franklin's XRP ETF, 255 shares of REX-Osprey's product, and 567 shares of Bitwise's counterpart. Wolverine Asset Management held nearly 200,000 Bitwise XRP ETF shares. Gallacher Capital Management reported 86,744 shares of a Capital XRP ETF, likely the one from Canary Capital. Main Street Group had 5,261 shares of XRP-related products, and National Bank of Canada held 3,848.
These filings cover positions held as of June 30. The next round of quarterly disclosures will show whether these stakes have grown, shrunk, or disappeared entirely. For now, the list of institutions holding XRP exposure is getting longer.
