Citadel Allegedly Bets on XRP ETFs, Cuts Puts, Keeps Calls

Citadel reportedly builds a stake in spot XRP ETFs — and is betting on upside Unverified reports circulating in crypto circles say Citadel Advisors, the multi‑billion‑dollar hedge fund led by Ken Griffin, has made a notable push into spot XRP ETFs. According to social posts by market commentators, the firm has allegedly closed out all of its put options on the Canary XRP ETF while keeping a large parcel of call options intact — a combination traders often read as a shift from protection toward outright bullish exposure. What was posted - On May 16, analyst Xaif Crypto claimed on X that Citadel filed a 13F with the SEC disclosing a meaningful XRP‑ETF position. The circulating figures put Citadel’s XRP exposure at roughly $1.7 million across providers such as Bitwise, Canary, Franklin and Grayscale. - The same thread asserts Citadel has “closed out” 100% of its put options tied to its Canary XRP ETF position, while still holding 34,900 call options — bets that would profit if XRP’s price rises. The notional sizes attached to those calls were not disclosed. Why traders care In institutional trading, removing downside protection (puts) while retaining upside exposure (calls) is commonly interpreted as increased conviction that a downtrend is ending. If the reports are true, the move could signal that Citadel expects XRP to flip bullish, potentially setting the stage for a rally. Context and history Even if the 13F claim remains unconfirmed, Citadel isn’t a new name around XRP. The firm and Fortress reportedly co‑led a $500 million funding round in Ripple in November 2025 that valued the company at $40 billion — a prior sign of interest in the broader XRP ecosystem. ETF flows and institutional activity Adding fuel to the story, X Finance Bull — another crypto analyst on X — reported on May 18 that spot XRP ETFs posted their largest weekly inflow since January 2026, taking in $60.5 million and bringing cumulative net inflows to about $1.39 billion. The analyst noted a striking divergence: while retail investors reportedly sold into a dip, institutions accelerated accumulation of XRP‑linked products. What institutions might be positioning for X Finance Bull highlighted a string of regulatory and structural developments that institutional players appear to be watching: - CLARITY Act markup - Appointment of Kevin Warsh as Fed Chair - Ripple Prime’s reported $200 million facility - A DTCC working group - Reported settlement activity involving JPMorgan Chase and Mastercard on the XRPL These are the kinds of events large funds often seek to position around well in advance of price moves. Takeaway and caveats The narrative of Citadel unwinding downside protection while keeping calls would be significant if confirmed, as it suggests growing institutional confidence in XRP. However, the 13F filing and the detailed options data referenced remain unverified public reports. Readers should treat the claims as rumors until corroborated by filings or direct confirmations from the firms involved.