BlockBeats News, March 11th, Bloomberg Intelligence analyst James Seyffart stated that due to the fact that most investors are not required to submit 13F filings, the currently publicly disclosed spot XRP ETF holdings only reflect a “small portion” of the market.
Data shows that as of the end of 2025, the top 30 holders of the spot XRP ETF collectively held approximately $2.11 billion in shares. Among them, Goldman Sachs held the top position with around $1.54 billion.
Seyffart also noted that as of the end of 2025, cumulative inflows into the spot XRP ETF have exceeded $1 billion; as of last week, the related fund’s assets under management (AUM) were approximately $14.4 billion. Another Bloomberg Intelligence analyst, Eric Balchunas, stated that these investors are likely primarily from the XRP community’s “super fans,” rather than retail investors.
Several institutions have already launched spot XRP ETF products, including 21Shares, Bitwise Asset Management, and Franklin Templeton. Among them, 21Shares’ spot XRP ETF has become its most popular altcoin fund product. In addition, Ripple CEO Brad Garlinghouse recently stated at an XRP event that XRP is the company’s “North Star.”
