XRP Spot ETF Attracts $1.4 Billion: Who's Buying?

Bloomberg's senior analysts James Seyffart and Eric Balchunas have conducted an in-depth analysis of the market performance of the XRP spot ETF. Despite the recent significant correction in the cryptocurrency market, the XRP spot ETF has shown better-than-expected resilience, attracting a cumulative $1.4 billion in funds since its launch.

Seyffart pointed out that this scale of fund inflow is particularly prominent against the backdrop of market downturn. He emphasized that only the identities of some investors can be confirmed at present, as most individual investors do not need to submit 13F disclosure documents. According to existing disclosure data, as of December 31, 2025, 83 U.S. institutional investors hold XRP spot ETFs, including well-known financial entities such as Goldman Sachs, Millennium Management, and Citadel Advisors.

The current total assets under management (AUM) of the XRP spot ETF are approximately $1.34 billion, of which approximately 15.9% comes from publicly disclosed institutional holdings, with the vast majority of the remainder speculated to come from individual investors. Compared to other crypto ETF products, XRP and Solana ETFs, as emerging categories, derive their growth momentum mainly from loyal holders who are long-term bullish on XRP. Balchunas stated that it is rare for newly listed ETFs to achieve significant fund inflows in an environment where the overall market has fallen by nearly 45%, which reflects the strong belief base of the XRP community. Although Bitcoin and Ethereum spot ETFs still dominate the market, XRP and Solana ETFs are catching up at an astonishing rate, demonstrating the strong appeal and investor confidence in emerging altcoin products.