U.S. spot XRP exchange-traded funds have recorded net inflows for 11 consecutive trading sessions, bringing approximately $170 million into the funds during the streak, according to SoSoValue data. Since launching last November, cumulative net inflows have reached roughly $1.68 billion.
Tuesday’s session added another $14.38 million, led by Franklin Templeton’s XRP fund with $6.63 million, while Grayscale contributed $4.72 million. Notably, the streak has continued despite volatility in XRP itself, with the token trading around $1.33 early Wednesday after retreating from roughly $1.45 on August 27.
The persistence of ETF inflows through that pullback is significant. It suggests that at least some of the capital entering regulated XRP products is not simply chasing short-term price momentum. Investors have continued allocating to the funds even as XRP moved away from its late-August high.
The scale, however, remains considerably smaller than Bitcoin’s regulated ETF market. U.S. spot Bitcoin ETFs attracted approximately $2.26 billion across six sessions in late August alone — more than the entire cumulative inflow recorded by XRP ETFs since launch. The difference highlights how early institutional adoption of XRP ETFs remains relative to Bitcoin.
Institutional ownership data provides another layer to the picture. Bloomberg Intelligence’s compilation of second-quarter 13F filings shows Goldman Sachs as the largest disclosed holder of XRP ETFs as of June 30, with approximately $87.4 million in reported exposure. Jane Street followed with $16.6 million and Millennium Management with $16.2 million.
Those figures should not, however, be interpreted as direct evidence of a long-term bullish XRP position. Large ETF holdings at financial institutions can reflect market-making, basis trading, client facilitation, or hedged strategies. Reported ETF exposure and net directional exposure are therefore not necessarily the same thing.
By investor category, investment advisers represented the largest portion of disclosed holdings, accounting for approximately $120 million of the $183 million reported across filings. Hedge funds held around $25 million, brokerages $17 million, and banks approximately $14 million. Advisers also accounted for most of the quarterly increase, adding roughly $90 million of the $103 million rise across all categories.
This distribution suggests that wealth-management channels are currently playing a larger role in XRP ETF adoption than proprietary institutional trading or hedge-fund positioning. That distinction is important when assessing how deeply XRP has penetrated traditional investment channels.
There is also a timing limitation to consider. The 13F data represents positions held as of June 30, while the current 11-session inflow streak began on August 18. The filings therefore cannot confirm whether Goldman Sachs, Jane Street, Millennium, or other disclosed holders maintained, reduced, or increased their exposure during the latest period. Those changes will only become visible through subsequent quarterly disclosures.
For the market, the more relevant signal is the combination of continued ETF demand and XRP’s ability to hold above its mid-August levels despite the recent pullback. If inflows continue while the institutional holder base broadens in upcoming filings, the data could strengthen the case that XRP is gradually developing a deeper regulated investment channel.
For now, however, the evidence points to growing access rather than established institutional dominance. XRP’s ETF market is attracting persistent capital, but its scale remains far below Bitcoin’s, while existing institutional holdings still require careful interpretation.
