The Bitwise product exposure is particularly eye-catching because it holds spot XRP, unlike other ETFs tracking the popular altcoin. Bitwise’s product saw the light of day in November, just a few weeks after Canary Capital’s ETF hit Wall Street, and has become the largest of the bunch since.

The document covers the second quarter of the year, as confirmed by the SEC. The filing contains the company’s reportable securities position at the June 30 cutoff.

It’s worth noting that Jane Street’s involvement, since it’s one of the largest market makers and actively trades ETFs and options, should not necessarily be regarded as a simple long-term directional bet on XRP, but the scale is still difficult to ignore. Moreover, it held just 20,605 ordinary Bitwise XRP ETF shares at the end of Q1, meaning that there was a significant increase to the 1.2 million shares reported three months later.

BoA, Morgan Stanley In It

Bank of America also reported in its latest filing cycle that it held 13,260 shares of the Volatility Shares XRP ETF. However, the position is worth just $76,000, nowhere near Jane Street’s exposure. Additionally, the Volatility Shares XRP ETF is not a spot ETF such as Bitwise’s financial vehicles.

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Morgan Stanley also disclosed positions in three XRP-related funds at the end of Q2: 6,715 shares of Franklin’s XRP ETF, 255 shares of REX-Osprey’s product, and 567 shares of Bitwise’s counterpart.

These holdings are quite insignificant relative to the behemoth’s overall portfolio, but they add to a growing list of institutions reporting regulated XRP exposure. Additionally, Wolverine Asset Management had nearly 200,000 Bitwise XRP ETF shares, Gallacher Capital Management reported 86,744 Capital XRP ETF shares, while Main Street Group and National Bank of Canada had 5,261 and 3,848 shares of XRP-related products, respectively.