A $592 million asset manager has revealed an ETF investment in XRP, and a separate U.S. wealth adviser has also disclosed a new position in an XRP ETF. The filings, made public this week, signal that institutional demand for XRP-linked products is continuing to build even as the broader crypto market faces regulatory uncertainty.
Who filed and what they bought
The first disclosure came from a $592 million asset manager that reported holding shares of an XRP-focused exchange-traded fund. The firm did not specify the exact size of its position, but the investment marks a notable entry by a mid-sized manager into a product that only launched earlier this year. A second U.S. wealth adviser, which manages assets for high-net-worth clients, also filed a new position in the same XRP ETF. Neither firm named the specific ETF in their filings, but the XRP ETF market currently includes offerings from several issuers.
XRP, the native token of the Ripple payment network, has long been a favorite among retail traders but has struggled to attract large institutional investors. The token's legal status was thrown into doubt after the U.S. Securities and Exchange Commission sued Ripple Labs in 2020, alleging XRP was an unregistered security. A federal judge ruled last year that XRP was not a security when sold to the general public, though the SEC is appealing that decision. The ETF investments suggest some money managers are now comfortable enough with the legal landscape to allocate client capital to XRP.
The SEC's appeal in the Ripple case remains pending, and a final resolution could take months or longer. In the meantime, more asset managers may follow suit. The two disclosures were made in quarterly filings with the SEC, meaning the public will have to wait for the next round of 13F filings to see if the trend continues.
