Spot XRP exchange-traded funds pulled in $170 million over 11 consecutive trading sessions through early September, according to trading data, as Goldman Sachs, Jane Street and Millennium Management emerged as the largest institutional holders.
The inflow streak ran from August 18 through September 2 across the suite of newly launched XRP spot ETFs. Goldman Sachs held $87.4 million in XRP ETF shares as of the second quarter, according to 13F filings reviewed by Bloomberg Intelligence, more than five times the $16.6 million position held by Jane Street and the $16.2 million stake disclosed by Millennium Management.
Spot XRP ETFs launched in the United States in June 2024, following approval from the Securities and Exchange Commission. The funds track the price of XRP directly, unlike the futures-based XRP products that preceded them. Eleven consecutive days of inflows is uncommon in the crypto ETF space; Bitcoin spot ETFs, which launched in January 2024, experienced their longest inflow streak of 24 consecutive days in the months following their debut but have seen mixed flows since.
Goldman Sachs' position as the dominant institutional holder stems from the firm's broader push into digital assets for its wealth management clients. The bank began offering cryptocurrency trading to ultra-high-net-worth clients in 2023 and has since expanded those offerings. Jane Street and Millennium Management, both major quantitative trading shops, have maintained active cryptocurrency desks for years and frequently accumulate positions across emerging token categories.
The inflow activity arrived as XRP traded near $2.50, up from roughly $1.80 at the start of August. Institutional adoption of spot crypto ETFs has accelerated since the SEC approved Bitcoin and Ethereum spot products, which collectively held more than $75 billion in assets under management by late August 2026.
Goldman's $87.4 million XRP position exceeds its disclosed holdings in any other single crypto asset at the same period. The three firms together account for $120.2 million of measurable institutional XRP ETF exposure, though total holdings across all institutional investors likely exceed $300 million based on fund flows and public filings.
The document to watch is the next round of 13F institutional holdings filings due November 15, which will show whether Goldman, Jane Street and Millennium have maintained or expanded their XRP stakes following the September inflow run.
