As of the end of 2025, the top 30 holders of the spot XRP ETF hold about $211 million in shares, with Goldman Sachs the largest holder at nearly $154 million. Analysts noted that only a small fraction of these investors appear in 13F filings because most do not file 13F documents. An analyst speculated that the concentration may come from XRP super fans rather than ordinary retail investors.
Last year, cumulative inflows into spot XRP ETFs exceeded $1 billion. As of last week, total assets under management reached about $1.44 billion.
Currently, the issuers of spot XRP ETFs include 21Shares, Bitwise Asset Management, and Franklin Templeton. The distribution of holders remains partly obscured due to non-disclosure in filings.
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