U.S. spot XRP exchange-traded funds have crossed a notable threshold, collectively holding more than 1 billion XRP tokens, while new regulatory filings show a sharp increase in institutional positioning. According to ETF holdings data from Maketo as of Sept. 29, U.S. XRP funds held approximately 1.13 billion XRP worth $1.68 billion, up from about $1.44 billion a month earlier—a roughly 16.6% growth in dollar value.
Jane Street Group’s August 14 Form 13F filing with the U.S. Securities and Exchange Commission revealed the market-making and trading firm increased its Bitwise XRP ETF common-share holdings by roughly 5,733% during the second quarter of 2026. The firm held 1,205,067 common shares worth approximately $14.05 million as of June 30, up from about 20,600 shares in the previous quarter. Jane Street also disclosed call options covering another 15,100 underlying shares, with a reported underlying value near $176,000.
Institutional rankings and fund details. In the latest ownership data, Jane Street ranked second among reported institutional holders of the Bitwise XRP ETF, behind Goldman Sachs, which held approximately 2.21 million shares worth $25.76 million at the quarter’s close. The Bitwise XRP ETF launched in November 2025 and trades on NYSE Arca under the ticker XRP. It holds spot XRP and charges a 0.34% management fee, providing price exposure through exchange-traded shares. By September 27, Bitwise reported approximately $616.4 million in assets and 36.99 million shares outstanding. Jane Street’s June holdings equal about 3.3% of that later share count, though the dates differ and the filing does not confirm current ownership.
Quarterly filings have limits. Jane Street’s disclosure reports certain long positions but omits a complete view of shorts and hedges. The filing therefore does not establish a bullish XRP strategy or reveal transactions after June 30, and it does not explain why the firm increased its common shares during the quarter. Separately, recent ETF flow data underscored ongoing demand. On September 22, Bitwise attracted $19.16 million in inflows. A September 26 report described fresh daily inflows of $22.65 million across U.S. spot XRP ETFs on September 25, with Bitwise receiving $18.39 million and Franklin Templeton the remaining $4.26 million. Weekly XRP ETF inflows for September 21–25 totaled about $75.59 million, of which Bitwise contributed roughly $58.99 million.
XRP ETFs versus Bitcoin and Ethereum. Despite XRP’s rapid growth, Bitcoin and Ethereum remain far larger ETF markets. U.S. Bitcoin ETFs hold around 1.29 million BTC worth roughly $108 billion, representing more than 6% of Bitcoin’s maximum 21 million supply. BlackRock’s IBIT alone accounts for more than 800,000 BTC, giving a single Bitcoin ETF vastly more assets than the entire XRP ETF market. Ethereum funds also remain considerably larger, holding several million ETH and tens of billions of dollars in assets depending on tracker methodology. XRP has occasionally beaten both Bitcoin and Ethereum in daily ETF flows, showing momentum but not yet comparable scale.
