Goldman Sachs is back in the XRP game. The Wall Street giant reported holding $86.5 million across five spot XRP ETFs as of June 30, according to its latest Form 13F filing with the SEC.
Goldman had completely liquidated its XRP ETF position earlier this year after dumping a $153.8 million stake built up in Q4 2025. The bank went from all-in to zero to $86.5 million in the span of two quarters.
A deliberate spread, not a single bet
Rather than piling into one fund, Goldman distributed its capital across five separate XRP ETF products. The Bitwise XRP ETF accounted for roughly $25.76 million of the total allocation. Franklin Templeton’s XRP Trust, trading under the ticker XRPZ, came in close behind at approximately $25.41 million.
Goldman didn’t stop at ETFs, either. The filing also revealed approximately 366,000 shares in Armada Acquisition Corp II, valued at around $3.81 million. That’s a SPAC connected to Ripple’s Evernorth Holdings, which is pursuing a Nasdaq listing.
Goldman isn’t alone at the table
JPMorgan, Morgan Stanley, and Bank of America all disclosed XRP ETF positions in their respective filings for the same period.
The broader XRP ETF market reflects this institutional appetite. Total assets under management across XRP ETFs climbed to $1.17 billion, while cumulative net inflows surpassed $1.53 billion. On the derivatives side, futures open interest for XRP reached $3.44 billion, a 17% increase at the time of reporting.
Price action and timing
XRP’s price surged approximately 40% around the time of the filing, reaching near $1.40. While 13F filings reflect positions as of a specific date (in this case June 30), the market tends to react when major names confirm they’re holding.
The $1.53 billion in cumulative ETF inflows is also worth watching as a trend indicator. If XRP ETFs follow a similar trajectory to Bitcoin and Ethereum ETFs, the current $1.17 billion in AUM could look modest in hindsight.
Investors tracking institutional positioning should watch the next round of 13F filings closely. If Goldman maintains or increases its position through Q3, and if the peer group of large banks does the same, it would confirm that XRP has secured a permanent seat in institutional crypto portfolios rather than serving as a rotational trade.