National Bank of Canada Reveals Crypto Holdings Through US-Listed ETFs

The National Bank of Canada has revealed its holdings in XRP and Bitcoin ETFs through US-listed exchange-traded funds (ETFs). The bank's allocation includes Bitwise's XRP ETF, with a total value of approximately $330,000. This type of product allows institutions to gain price exposure through regulated securities instruments without directly purchasing the underlying asset.

The majority of the bank's crypto allocations are in Bitcoin ETFs, which collectively represent the bulk of its holdings. This reflects traditional financial institutions' preference for more liquid and mature Bitcoin-related products when entering the crypto market.

The holding disclosure comes at a time when capital inflows into XRP ETF products have slowed down. Data from SoSoValue shows that on August 7, the single-day net inflow for the XRP ETF was zero, following a $3.45 million net inflow on August 6. Asset size has also decreased, with total assets in the XRP ETF dropping from around $993.38 million on August 5 to approximately $950.05 million on August 10.