'Quietly Accumulating'—Goldman Sachs Revealed As Top XRP ETF Holder

Goldman Sachs has been buying $XRP. A lot of it.

The bank's latest 13F filing, a quarterly snapshot of equity holdings required by the SEC, shows a $153.8 million position spread across four spot $XRP exchange-traded funds as of December 31, 2025. That makes Goldman the single largest disclosed institutional holder of $XRP ETF shares in the United States.

The breakdown, first surfaced by journalist Eleanor Terrett and analyzed by Bloomberg Intelligence's James Seyffart: roughly $40 million in Bitwise's $XRP ETF, $38.5 million in the Franklin $XRP Trust, $38 million in Grayscale's $XRP ETF and $36 million in the 21Shares $XRP ETF. Goldman didn't put all its chips on one fund. It spread the bet.

Wall Street is moving in while the $XRP price drops

Goldman isn't alone. Seyffart's analysis of Q4 2025 13F filings found the top 30 institutional investors collectively hold over $211 million in $XRP ETF shares. Goldman accounts for roughly 73% of that total.

But the token itself has been sliding. $XRP peaked near $2.40 in early January and has since dropped more than 40%. Standard Chartered cut its year-end $XRP price prediction from $8 to $2.80 in mid-February, citing slowing ETF inflows and macro headwinds.

That creates a split screen: one bank cutting its target while another quietly loaded up nine figures of exposure.

$XRP ETFs have crossed $1 billion in inflows

Five spot $XRP ETFs launched in the United States starting in November 2025, when Canary Capital's XRPC became the first to trade. Bitwise, Grayscale, Franklin Templeton and 21Shares followed within weeks. Cumulative net inflows crossed the $1 billion mark within the first few months of trading.

The pace has cooled since. Total assets under management peaked around $1.4 billion in late February but have dropped to roughly $1 billion, according to The Block's $XRP ETF tracker, dragged down by $XRP's price decline and a stretch of net outflows. On March 6 alone, $XRP ETFs recorded $16.6 million in redemptions.

Still, the fact that Goldman was building a position during the strongest inflow period suggests the bank was part of the early wave, not chasing momentum.

An estimated 84% of $XRP ETF assets are held by retail investors, according to Seyffart, who described them as "$XRP super fans." The 13F data captures only the visible institutional slice — managers with more than $100 million in qualifying securities who are required to disclose.

The Ripple overhang is gone

Part of what makes the Goldman position notable is timing. As recently as early 2025, $XRP was still entangled in the SEC's lawsuit against Ripple. Both sides dropped their appeals in August 2025, formally closing the case. Judge Torres's $125 million penalty for Ripple's institutional $XRP sales remained in place.

Torres's earlier ruling that $XRP sold on public exchanges does not constitute a security remains intact. That legal clarity, combined with the ETF approvals that followed, gave institutional investors like Goldman a regulated, familiar wrapper for $XRP exposure.

What to watch for $XRP price prediction

A 13F filing is a rear-view mirror. Goldman's $153.8 million position reflects where the bank stood on December 31, not where it stands today. Goldman could have trimmed, added or exited entirely in the months since.

But the signal matters. When the largest investment bank in the world shows up in the filings of four separate $XRP funds, it suggests the trade was deliberate, not incidental. And it landed during a period when retail sentiment across the broader crypto market has been stuck in extreme fear for over five weeks.

$XRP was trading near $1.38 as of press time. Even Standard Chartered's reduced $2.80 $XRP price prediction implies a rough double from here by year-end. Goldman's next 13F filing, due in mid-May, will show whether the bank held its position through $XRP's slide or cut its losses.