Goldman Sachs Leads Institutional Demand for XRP Amid Regulatory Progress

The price of XRP has risen by 1.31% to $1.38 as Goldman Sachs takes the lead in institutional demand for the asset, driven primarily by spot ETFs and positive regulatory developments.

According to a recent 13F filing from Goldman Sachs, the investment bank now holds approximately $87.45 million worth of XRP through spot ETFs, making it the largest institutional holder of these products.

This marks a significant increase from the previous quarter, where Goldman Sachs held $4 million in XRP ETF exposure.

The SEC has also cleared the registration statement for Evernorth Holdings, an XRP treasury company backed by Ripple, paving the way for its merger with a SPAC and listing on the Nasdaq under ticker “XRPN”.