Goldman Sachs disclosed a $153.8 million position across four spot XRP ETFs in its Q4 2025 13F filing — making it the largest institutional holder of XRP ETFs with approximately 73% of all reported institutional exposure.
Goldman Sachs disclosed a $153.8 million position across four spot XRP ETFs in its Q4 2025 13F filing — making it the largest institutional holder of XRP ETFs with approximately 73% of all reported institutional exposure.
Goldman Sachs disclosed a $153.8 million position across four spot XRP ETFs in its Q4 2025 13F filing — making it the largest institutional holder of XRP ETFs with approximately 73% of all reported institutional exposure.
The position, equivalent to roughly 83.6 million XRP tokens, was spread evenly across:
1. Wall Street is legitimizing altcoin ETFs beyond Bitcoin
Goldman Sachs is a $3.5 trillion AUM firm. When they allocate nine figures to XRP ETFs within months of launch, it signals that institutional interest isn't limited to Bitcoin and Ethereum. Altcoins with regulatory clarity are now "portfolio-grade."
2. The timing is telling
XRP ETFs launched in November 2025. Goldman accumulated its position by December 31, 2025 — within 60 days of launch. This wasn't a slow drip; it was deliberate, rapid allocation.
3. Price hasn't reacted — yet
Despite Goldman's disclosure and $1.4B+ in cumulative XRP ETF inflows, XRP price has declined from $2.40 (January) to ~$1.40 (March). This suggests:
Goldman isn't alone, but they dwarf the competition:
| Institution | XRP ETF Holdings |
|---|---|
| Goldman Sachs | $153.8M (73%) |
| Millennium Management | $23.1M |
| Others (28 institutions) | ~$34M combined |
| Total Institutional | ~$211M |
Total XRP ETF AUM: $1.44 billion (84% retail, 16% institutional)
Capital Group ($3.3T AUM) disclosed a 10.63% stake (136M shares, ~$203M) in Metaplanet, making it the largest shareholder of Japan's premier Bitcoin treasury company. The firm already holds a position in Strategy, now extending its Bitcoin treasury thesis across two jurisdictions.
T. Rowe Price, the $1.89 trillion asset manager, launched the T. Rowe Price Active Crypto ETF (TKNZ) on NYSE Arca — the first actively managed multi-token spot crypto exchange-traded product in the marketplace. The fund holds a diversified portfolio across Bitcoin, Ethereum, BNB, XRP, Solana, and Hyperliquid, with active allocation adjustments led by Blue Macellari, Head of Digital Assets since 2022.
The SEC approved an immediately effective rule change quadrupling IBIT options position limits from 250,000 to 1,000,000 contracts, enabling up to $5B in notional options exposure per participant. The approval landed the same day BlackRock reported record $15.3T AUM and $191.7B Q2 inflows, even as IBIT shed $3.3B during the quarter.