National Bank of Canada Takes Exposure to Crypto Through US-Listed ETFs

Canadian financial institution National Bank of Canada has revealed its exposure to crypto through US-listed ETFs, including a $330K XRP ETF and several Bitcoin ETFs. According to recent holdings data, the bank holds 3,848 shares of the Bitwise XRP ETF, valued at approximately $330,000. This marks one of the first times an institutional investor has disclosed a direct stake in an XRP ETF.

The majority of National Bank of Canada's crypto exposure comes from Bitcoin ETFs, with positions in the ProShares Bitcoin ETF, Fidelity Wise Origin Bitcoin Fund, Grayscale Bitcoin Trust ETF, and Grayscale Bitcoin Mini Trust ETF. The largest position is in the ProShares Bitcoin ETF, with 42,321 shares valued at around $5.31 million.

The bank's XRP ETF holding comes as demand for XRP funds has recently slowed, with zero daily net inflows on August 7 and August 10 following net inflows of $3.45 million on August 6. However, cumulative net inflows remain strong at around $1.51 billion.