Source: SEC.gov
The largest XRP ETF holder joins the BTC ETF bandwagon
The announcement highlights a shift in Goldman Sachs, from Bitcoin product investor to issuer. It further diversifies its crypto ETF portfolio, with other holdings including Ethereum, Solana, and XRP (Goldman Sachs is the largest holder of XRP ETFs globally).
Even more, it shows an increased appetite for digital asset investment products among institutional investors. Just last week, Morgan Stanley launched what is now the cheapest spot Bitcoin ETF in the US. Other prolific institutions offering similar products include Grayscale and BlackRock.
That said, these firms continue to actively alter their positions in these products to maintain profitability. Just yesterday, spot Bitcoin ETFs recorded net outflows of $291 million, while spot Ethereum ETFs saw $9.44 million in inflows.
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