$418B IMC-Chicago Boosts Bullish Positions in XRP ETFs Amid Institutional Interest

IMC-Chicago, a $418 billion asset under management (AUM) proprietary trading firm and market maker, has disclosed significant holdings in XRP exchange-traded funds (ETFs). The company revealed massive bullish positions and call bets on multiple XRP ETFs in its Q2 filing with the US SEC. IMC-Chicago purchased 28,237 shares in Bitwise XRP ETF, 12,207 shares in Teucrium 2x Long Daily XRP ETF (XXRP), and 10,531 shares in Volatility Shares 2x XRP ETF (XRPT). The firm also opened new call bets in Bitwise XRP ETF and XXRP.

The trading giant's total portfolio value has increased by almost 50% this quarter amid rising interest in crypto and other areas. This comes as institutional interest in XRP continues to grow, with $3.6 billion AUM EverSource Wealth Advisors disclosing significant holdings in multiple XRP funds. Bank of America (BofA) also holds 13,000 shares of the Volatility Shares XRP exchange-traded fund.

The presence of 135,900 put options on the leveraged Teucrium ETF XXRP indicates hedging activity, which comes as crypto market uncertainty remained high amid the US-Iran war. The disclosure has sparked speculation about the potential impact on XRP price, with some analysts predicting a rebound amid growing institutional interest.