Bloomberg ETF Analyst Says XRP ETFs Have “Held Up Pretty Well,” Despite Sell off

XRP exchange-traded funds (ETFs) have continued to attract strong investor demand despite declines in the token’s price since their debut.

James Seyffart, a widely followed ETF analyst at Bloomberg, recently confirmed this in a post on X. He noted that XRP ETFs have performed relatively well even as the market cooled.

Key Points

$1.4B Inflow Since Launch

According to Seyffart’s data, the XRP ETFs have collectively attracted $1.4 billion in cumulative inflows since their launch in November 2025.

The inflows are notable given that XRP has experienced a significant pullback during the same period. The asset has declined from around $2.50 at the time of the ETF launch to roughly $1.11. Currently, XRP is trading at $1.38. Yet the investment products have continued to draw capital.

Seyffart suggested that the steady inflows raise questions about who exactly is buying and holding the funds. He explained that only a fraction of ETF investors can be identified through regulatory filings such as 13Fs, meaning the majority of holders remain unknown.

Institutional Investors Reveal Early Positions

Among the disclosed investors, Goldman Sachs stands out as the largest known institutional holder of XRP ETF exposure. As of Dec. 31, 2025, the Wall Street giant held about $153.8 million worth of XRP exposure. This is equivalent to roughly 83.63 million XRP through various ETF products.

Other notable hedge funds and asset managers have also taken positions. These include Millennium Management, which reported about $23 million in holdings, and Citadel Advisors, which disclosed roughly $4.52 million in exposure.

Additional firms with smaller but still notable allocations include Jain Global and Logan Stone Capital, along with market-making and trading firms such as Jane Street and DRW.

Beyond these firms, numerous wealth managers and financial institutions reported smaller positions ranging from under $1 million to several hundred thousand dollars. This reflects a broad mix of institutional and advisory interest in XRP ETFs.

Retail Demand Appears to Drive the Market

Seyffart noted that while institutional filings provide a partial snapshot of ownership, retail investors likely account for the majority of demand in XRP ETFs. Because most retail participants do not file 13F disclosures, their activity remains largely invisible in public data.

Still, the steady inflows indicate continued interest in regulated XRP exposure through traditional financial products.

XRP ETF Market Continues to Grow

The strong demand aligns with recent developments in the XRP ETF sector. Earlier this month, the Bitwise Asset Management XRP ETF became the largest XRP ETF in the United States, surpassing its main competitor from Canary Capital after attracting fresh inflows.

Specifically, Bitwise rose to the top position after bringing in $10 million in weekly inflows, pushing its assets to about $289 million. However, the latest figures show Canary Capital has reclaimed the top spot. It boasts a total XRP asset of $271.56 million while Bitwise’s product sits slightly below at $263.55 million.

Notably, the XRP ETF market also includes products from major issuers such as Franklin Templeton, 21Shares, and Grayscale Investments.

Ultimately, the sustained inflows suggest that both retail and institutional investors are continuing to build exposure to XRP through regulated investment vehicles.