Goldman Sachs has emerged as the largest reported institutional holder of U.S. spot XRP exchange-traded funds, adding another Wall Street heavyweight to an ETF market whose cumulative inflows are approaching $1.8 billion.
Second-quarter 13F data compiled by Bloomberg ETF analyst James Seyffart puts Goldman Sachs at the top with approximately $87.4 million in XRP ETF exposure. Jane Street follows with about $16.6 million, while Millennium Management holds roughly $16.2 million.
Goldman’s increase is particularly notable. Bloomberg-derived data indicate its exposure rose by roughly $83.1 million from the previous quarter, implying a prior position near $4.3 million and an increase of roughly twentyfold.
That distinction matters because some social-media commentary described Goldman as returning after completely exiting XRP ETFs. Available Q2 versus Q1 data instead point to a dramatic expansion of an existing position.
Goldman Pulls Ahead of Other XRP ETF Holders
The ranking extends well beyond Goldman.
Behind Jane Street and Millennium, Intesa Sanpaolo reportedly holds approximately $14.4 million, followed by Marex UK Holdings at about $8.1 million. The list also includes wealth managers, hedge funds and trading firms.
Goldman’s underlying SEC filing is a Form 13F covering positions as of June 30, 2026, filed Aug. 14. The filing confirms the reporting period and Goldman Sachs Group as the institutional investment manager.
However, 13F positions should not automatically be interpreted as directional XRP bets.
These disclosures show ownership of ETF securities rather than direct XRP holdings, and firms such as Jane Street can hold ETFs as part of market-making, arbitrage or hedged trading strategies. The filings therefore demonstrate institutional participation, but not necessarily long-term bullish conviction.
XRP ETF Inflows Keep Building
The broader flow story may be more important than any single holder.
Seyffart’s Bloomberg data showed cumulative XRP ETF net inflows reaching roughly $1.79 billion by Aug. 26, after climbing steadily through June, July and August.
Separate SoSoValue-based data put cumulative inflows at approximately $1.669 billion after Aug. 31, illustrating that different trackers and product classifications can produce different totals. U.S. funds added another $5.64 million on Aug. 31, led by Canary’s XRPC.
The more consistent signal is direction: XRP ETF demand has continued expanding.
Last week alone, the products attracted $110.49 million, their strongest weekly inflow of 2026. Coinpaper recently tracked that record ETF week, following earlier coverage of cumulative XRP ETF inflows reaching $1.55 billion.
XRP Price Still Lags Institutional Demand
The contrast with XRP itself remains striking.
XRP was trading near $1.39 Tuesday, with a market capitalization around $87 billion. Despite the improving ETF backdrop, the token remains well below its recent August highs.
That divergence has become one of the more interesting parts of the XRP story. Coinpaper has previously highlighted how XRP ETF demand has accelerated relative to other major crypto assets even when price performance has been less convincing.
Goldman’s $87.4 million position adds another recognizable Wall Street name to that trend.
It does not prove that Goldman, Jane Street or Millennium are directly accumulating XRP for long-term appreciation. What the filings do show is that XRP-linked investment products are becoming increasingly embedded inside portfolios and trading strategies used by some of the largest institutions in traditional finance.
