Wall Street Giant Goldman Sachs Tops the Charts as Largest Spot XRP ETF Holder ⋆ ZyCrypto

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Spot XRP exchange-traded funds (ETFs) have registered total net inflows exceeding $1.4 billion, even as the broader cryptocurrency market has experienced a brutal meltdown since late 2025.

Bitcoin has dropped sharply from its October 2025 record high of $126,080 to about $70,284, losing roughly 44% of its value, with many other cryptocurrencies falling even more. According to CoinGecko, XRP has declined by around 61.9% since its $3.65 all-time high reached in July last year, trading at $1.40 at publication time.

XRP Funds Rake In Massive 1.4B Net Inflows

Despite this market slump, Bloomberg ETF analyst James Seyffart highlighted that the six U.S.-listed XRP ETFs are still drawing strong investor interest. He noted that since their launch in early November 2025, these funds have amassed over $1.4 billion in net inflows.

He shared that the top 30 holders of spot XRP ETF shares held roughly $211 million in positions as of December 31, 2025, with banking titan Goldman Sachs leading by a large margin, owning nearly $154 million of those shares. By comparison, Millennium Management held $23 million, while Logan Stone Capital had $5.3 million.

Seyffart explained that only a small fraction of spot XRP ETF investors appear in filings, as most do not submit 13F reports.

The ETFs let investors gain exposure to XRP’s price movements without owning the cryptocurrency directly. Multiple firms have launched spot XRP ETFs, including 21Shares, Bitwise Asset Management, Grayscale, and Franklin Templeton.

Data from SoSoValue indicates that XRP ETFs have faced minimal selling pressure. Since their launch, the funds have seen only nine days of net outflows, three of which happened just last week.

“Like Solana, this is really impressive given these launched into a brutal 45% drawdown,” fellow Bloomberg Intelligence analyst Eric Balchunas commented in reply to Seyffart’s post. “My guess is this is largely XRP super fans versus casual retail.”

Notably, XRP continues to have one of the most active and outspoken retail communities in the cryptocurrency space, with millions of supporters across the globe. At an XRP-focused event on X last month, Ripple CEO Brad Garlinghouse described the token as the company’s “North Star.”