National Bank of Canada Takes Modest Step into Cryptocurrency Market with $111,240 Portfolio

The National Bank of Canada has made its foray into digital assets clear in a recent regulatory filing. The bank's Form 13F, submitted to the U.S. Securities and Exchange Commission, reveals a cryptocurrency-focused portfolio worth approximately $111,240.

The disclosure shows that the bank holds positions across five crypto funds, with the largest allocation directed towards Bitcoin-related products. Specifically, it owns 5,310 shares of the ProShares Bitcoin ETF valued at $42,321, as well as 1,090 shares of the Fidelity Wise Origin Bitcoin Fund worth $55,644.

The bank's XRP exposure comes through the Bitwise XRP ETF, where it reported holding 330 shares valued at $3,848. This marks a rare appearance of the token in a major North American bank's 13F filing and signals that regulated Canadian financial institutions are beginning to diversify beyond Bitcoin into altcoin-based exchange-traded products.

The disclosure lands at a challenging moment for XRP, which saw its price decline by over 40% from $1.84 on January 1 to $1.05 by June 30. This broader market weakness was reflected in separate filings from Grayscale, whose XRP Trust ETF reported heavy redemption activity during the first half of the year.