Citadel Goes All-In on XRP ETFs: Bullish Positions Reach $1.7 Billion

Citadel Advisors, led by billionaire Ken Griffin, significantly increased its exposure to XRP ETFs in Q2, signaling a bullish outlook on XRP. The $875 billion AUM Wall Street giant boosted direct holdings and call positions across multiple US-listed XRP exchange-traded funds. In particular, Citadel revealed 215,639 shares in REX-Osprey XRP ETF (XRPR) and 54,438 units in Volatility Shares Trust XRP ETF (XRPI).

The most notable increase came in Volatility Shares' 2x XRP ETF (XRPT), where Citadel's reported call position jumped 764% from 9,040 contracts in Q1 to 78,075 worth $1.70 million in Q2.

This reflects the hedge fund going bullish on XRP, with other notable positions including 79,500 contracts in Canary XRP ETF (XRPC), new 54,500 contract positions in Franklin XRP Trust (XRPZ), and 46,200 in Bitwise XRP ETF. However, it also held puts to prevent losses.

Notably, Citadel also revealed Armada Acquisition Corp II (XRPN) holdings, as Ripple-based largest XRP treasury Evernorth Holdings nears merger with Armada to debut on Nasdaq. This comes amidst a broader trend of institutional investors increasing their exposure to XRP ETFs, including JPMorgan, Morgan Stanley, Bank of America, and Goldman Sachs.