Bitcoin and the broader cryptocurrency market rallied sharply in August, with BTC rising above $80,000 for the first time in months. XRP was among the altcoins to post significant gains during the period.
Data shows that XRP’s price increased by approximately 40% between August 17 and August 31, rising from $0.99 to $1.38. However, total open interest in XRP futures fell by 16%, declining from 2.77 billion XRP to approximately 2.34 billion XRP.
While open positions across the broader XRP futures market decreased, activity on the Chicago Mercantile Exchange (CME) moved in the opposite direction. CME open positions increased from 284 million XRP to 387 million XRP, representing a gain of approximately 36%.
According to market analyst Omkar Godbole, the CME’s status as a regulated market used primarily by professional investors and asset managers makes the increase a potential signal of strengthening institutional interest in XRP.
The shift in futures positioning comes ahead of the expected US Clarity Act vote, which would establish rules for the structure of the cryptocurrency market. The legislation is of particular interest to XRP and other digital assets, while market participants closely monitor the Senate’s procedural vote on the bill.
Wall Street Interest in XRP ETFs Grows
Despite continued volatility in XRP futures, US spot XRP ETFs maintained steady inflows.
Bloomberg ETF analyst James Seyffart announced in a post on August 31 that cumulative net inflows into US spot XRP ETFs had reached $1.8 billion.
Seyffart also noted that ETF flows have remained mostly positive since their launch, despite fluctuations in the price of XRP.
Largest Institutional XRP ETF Holders
After reviewing second-quarter 13F filings, Seyffart identified Goldman Sachs, Jane Street, and Millennium Management as some of the most prominent institutional investors in spot XRP ETFs.
According to the chart shared by Seyffart, Goldman Sachs held the largest position, with $87.4 million invested in spot XRP ETFs. That represented an increase of $83.1 million from the previous quarter.
Jane Street Group ranked second with $16.6 million, followed by Millennium Management with $16.2 million, Intesa Sanpaolo with $14.4 million, and Marex UK Holdings with $8.1 million.
Advisors Lead XRP ETF Investor Groups
Investment advisors stood out among the major XRP ETF investor groups. Seyffart’s report showed that advisors were among the largest holders of spot XRP ETFs during the second quarter and represented the most active investor group in allocating capital to these products.
The data indicates that XRP ETFs are attracting interest from both individual investors and traditional financial institutions, suggesting that institutional participation in the products is continuing to expand.
This is not investment advice.
