Bank of Montreal disclosed two XRP-linked ETF positions in a $303 billion portfolio, joining a wave of institutions gaining XRP exposure through regulated funds.
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Bank of Montreal discloses XRP ETF stakes in $303 billion portfolio
Bank of Montreal reported 323 shares of REX-Osprey XRP ETF and 20 shares of ProShares Ultra XRP ETF in a $303 billion SEC 13F filing covering holdings as of June 30.
"The trend of institutional XRP adoption is getting harder to ignore," crypto commentator BankXRP said on social media after Militia Capital Management amended its 13F to disclose 31,820 shares of the Bitwise XRP ETF.
The two products offer different exposure. REX-Osprey XRP ETF provides direct spot exposure to XRP, while ProShares Ultra XRP is a leveraged fund designed to multiply daily XRP moves. The positions are small relative to BMO's portfolio, which lists 14,271 reportable securities.
What the 13F filing shows
A Form 13F provides a quarterly snapshot of U.S.-listed securities held by institutional managers. It does not show direct crypto holdings or real-time positions, and it does not explain why an institution holds a security. BMO's disclosure confirms the bank had XRP-linked ETF exposure but does not prove direct XRP ownership or a large strategic allocation.
The disclosure adds to a pattern of institutional XRP ETF holdings in 2026. Gallacher Capital Management reported 86,744 shares of the Canary XRP ETF valued at $961,126, while Citadel held 34,900 call options on the same product. Franklin Templeton clients bought $5.66 million of XRP during the year, and National Bank of Canada holds 3,848 shares of the Bitwise XRP ETF.
The seven U.S.-listed spot XRP ETFs have drawn cumulative net inflows in the billions, with the Bitwise fund recording $4.41 million in daily net inflows on July 16, the most of any XRP product that day. XRP traded near $1.00 on Aug. 13, down 3.2 percent over the past week, according to CoinMarketCap.
Some large early holders have reduced positions. Goldman Sachs held XRP-linked positions exceeding $150 million around the end of 2025 and start of 2026, but later reduced or closed them, according to the source material. New holders include Arax Advisory Partners, Gerber, Vista Finance and Gallacher Capital.
The presence of a leveraged product in BMO's filing is notable. Leveraged ETFs magnify both gains and losses and are designed around daily objectives, so their long-term performance can diverge sharply from spot XRP. A small position in such a product may reflect short-term trading or hedging rather than a long-term bullish view.
The next wave of 13F filings will show whether institutional XRP exposure is expanding or simply rotating between investors. If more banks and asset managers use regulated XRP products, institutional participation could become a more established part of the XRP market. But the quarterly, delayed nature of 13F data means each disclosure is a snapshot, not evidence of active accumulation.
This article is for informational purposes only and does not constitute investment advice.
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