XRP ETFs Attract More Institutional Investors

Wall Street's involvement in XRP-based exchange-traded funds (ETFs) has grown significantly, with Jane Street reporting a massive increase in its Bitwise XRP ETF position. According to the firm's second-quarter Form 13F filing, Jane Street's exposure to the fund rose by approximately 60 times from just $20,605 shares three months earlier to over 1.2 million shares at the end of June.

This marks a notable expansion in institutional interest in XRP ETFs, with several major firms now holding reportable positions. Wells Fargo, for example, revealed a $9.18 million exposure to the same fund through its Bitwise XRP ETF holdings.

However, it remains unclear whether these institutions are making a genuine long-term bet on XRP or simply treating it as another product to trade. Jane Street's involvement is particularly noteworthy given its role as one of the largest ETF and options market makers on Wall Street.