Wall Street Titans Boost XRP ETF Holdings Amid Market Downturn
Some of the largest names on Wall Street have quietly increased their exposure to Ripple's (XRP) ETFs, according to recent SEC filings. The filings show that companies like Jane Street, Bank of America, and Morgan Stanley now hold significant amounts of XRP-related funds. However, it's worth noting that Jane Street's involvement is not necessarily a long-term bet on XRP.
Jane Street Group has taken the lead in terms of XRP ETF adoption, with over 1.2 million shares of the Bitwise XRP ETF held as of June 30. This is a significant increase from the mere 20,605 ordinary shares it held at the end of Q1. The company's holdings also include exposure to other funds like Franklin Templeton and Grayscale.
Morgan Stanley has disclosed positions in three XRP-related funds: 6,715 shares of Franklin's XRP ETF, 255 shares of REX-Osprey's product, and 567 shares of Bitwise's counterpart. These holdings are relatively insignificant compared to the company's overall portfolio but add to a growing list of institutions reporting regulated XRP exposure.
The recent filings provide insight into the ongoing interest in XRP ETFs among large financial institutions, despite the current market landscape not being as bullish as it was last year.