National Bank of Canada Boosts Crypto Exposure with XRP and Bitcoin ETF Holdings

National Bank of Canada has increased its exposure to cryptocurrencies by adding positions in several Bitcoin ETFs and the Bitwise XRP ETF, according to recent holdings data. The bank's latest disclosure shows that it holds 3,848 shares of the Bitwise XRP ETF, valued at approximately $330,000.

The XRP ETF position is notable because it gives the Canadian bank direct exposure to XRP through a regulated U.S.-listed investment product, rather than requiring direct XRP ownership. This marks an increase in institutional ownership of XRP ETFs, which are still developing.

However, the XRP position remains relatively small compared to the bank's Bitcoin ETF holdings, with several products making up the majority of its crypto exposure. The largest position is in the ProShares Bitcoin ETF, with 42,321 shares valued at roughly $5.31 million.