Jane Street Group reported holding more than 1.2 million shares of Bitwise's XRP ETF as of June 30, up from 20,605 shares at the end of Q1. That's a roughly 60-fold increase, disclosed in the firm's Q2 2026 Form 13F filed with the SEC.
Why the jump may not be a bet on XRP
Jane Street is one of the largest market makers in the crypto ETF space, so the sudden position size likely reflects its role providing liquidity, not a long-term directional view on the token. The same filing shows the firm also reported exposure to XRP-linked funds from Franklin Templeton, Grayscale, Canary Capital, and 21Shares, but the Bitwise stake is by far the biggest.
Other firms show up in XRP funds
Jane Street isn't alone. Bank of America reported 13,260 shares of the Volatility Shares XRP ETF, a non-spot product. Morgan Stanley disclosed 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 fund. Wolverine Asset Management held nearly 200,000 Bitwise XRP ETF shares. Gallacher Capital Management reported 86,744 shares of the Capital XRP ETF, while Main Street Group held 5,261 XRP-related shares and National Bank of Canada held 3,848.
Bitwise's spot XRP fund stands apart
Bitwise's XRP ETF holds spot XRP, unlike several rivals that track futures or other derivatives. Launched in November, it has become the largest among the funds discussed here. That may explain why Jane Street's position is so concentrated there—market makers typically need deep inventory in the most liquid product.
The next round of 13F filings, due in about three months, will show whether these positions were temporary inventory or something more lasting.
