Goldman Sachs Unveils $87M Bet on XRP ETFs

Goldman Sachs has revealed its significant exposure to XRP ETFs, making it one of Wall Street's largest reported holders. According to a recent 13F filing, Goldman Sachs held positions across five spot XRP ETFs, with the largest being $25.8 million in Bitwise's XRP ETF and $25.4 million in Franklin Templeton's XRPZ.

The bank's exposure amounts to approximately $87.45 million, which is roughly 84.05 million XRP tokens. This is a significant increase from the previous filing, with Goldman Sachs' position being more than five times larger than Jane Street's, the second-largest holder.

While this may seem like a bullish sign for XRP, it's essential to note that a 13F filing does not show why Goldman Sachs owns these shares. The positions could reflect proprietary investment exposure, client activity, market-making, or hedging. Moreover, the filing captures holdings as of June 30, so it should not be interpreted as Goldman buying $87 million of XRP today.