XRP ETFs Draw $1.4 Billion as Goldman Sachs Takes Top Holding Spot

TLDR

• Goldman Sachs disclosed about $153.8 million in spot XRP ETF exposure.

• Spot XRP ETFs have attracted more than $1.4 billion in net inflows.

• XRP ETFs recorded only nine red days since launch in November 2025.

• ETF demand stayed firm even as XRP traded about 62% below its peak.

Goldman Sachs has emerged as the largest disclosed holder of spot XRP ETF shares as the funds continue to attract capital. The products have recorded more than $1.4 billion in cumulative net inflows since launch, even as crypto prices remain under pressure.

Bloomberg Intelligence data shows XRP ETFs have posted only nine days of net outflows since early November 2025. The steady inflow trend points to continued investor interest in regulated XRP exposure during a weak market period.

Goldman Sachs takes the top disclosed position

According to Bloomberg Intelligence analyst James Seyffart, the top 30 holders of spot XRP ETF shares controlled about $211 million at the end of 2025. Goldman Sachs accounted for nearly $154 million of that total, which placed it well ahead of other disclosed holders.

Recent 13F filings also showed participation from other major firms. Millennium Management reported about $23 million in exposure, while Citadel Advisors disclosed about $5.2 million. Jane Street reported about $1.9 million, and DRW Securities and Wedbush Securities also appeared among holders.

These filings offer an early view of institutional participation in the XRP ETF market. However, they do not show the full investor base because many holders do not report through 13F filings.

That group includes retail investors, foreign funds, and broker-dealer clients. As a result, the disclosed positions likely represent only part of the total demand behind XRP ETF inflows.

Inflows continue despite a weaker crypto market

Spot XRP ETFs have added more than $1.4 billion in cumulative inflows since launch, based on data shared by Seyffart. Separate figures from SoSoValue place cumulative net inflows near $1.22 billion, while total net assets stand around $971 million.

Those assets account for about 1.16% of XRP’s market capitalization. While the totals differ by source, both datasets show that the funds have continued to gather assets over several months.

Source: X

The inflows came during a sharp market decline. Bitcoin fell from about $126,000 in October 2025 to around $70,000 at press time, and many digital assets posted deeper losses.

Bloomberg Intelligence analyst Eric Balchunas said the ETF performance stood out during the downturn. He wrote, “Like Solana, this is really impressive given these launched into a brutal 45% drawdown.”

Limited selling pressure supports the trend

SoSoValue data shows that XRP ETFs have recorded only nine days of net outflows since launch. Three of those red days came during the past week, but the broader trend has remained positive.

The chart shared by Bloomberg Intelligence showed inflows rising from about $150 million in November 2025 to over $1.4 billion by early March 2026. That pattern suggests steady allocations rather than short-lived trading activity.

Balchunas said part of the demand may come from committed XRP investors. He wrote,

The resilience in flows also suggests that some investors used the pullback to build positions. Regulated vehicles often support that behavior because they fit existing brokerage and portfolio systems.

XRP ETFs expand access for traditional investors

Several issuers now offer spot XRP ETFs, including 21Shares, Franklin Templeton, Bitwise, Canary Capital, and Grayscale. Their products give institutions and other investors a simpler route into XRP exposure.

For many firms, ETFs reduce the operational burden of holding digital assets directly. They also provide regulated access through familiar investment channels, which helps traditional investors enter the market more easily.

XRP price traded near $1.40, up about 2.5% on the day. Even so, it remained around 62% below its all-time high of about $3.66 reached in July 2025.

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