Kamilah Stevenson, a renowned crypto & wealth YouTube host, says Goldman Sachs has re-emerged as the largest disclosed institutional holder of XRP exchange-traded funds after previously reporting no exposure.
Her central claim is that Goldman’s latest 13F filing shows roughly $86.5 million spread across five XRP-related funds, following a complete exit in the prior quarter.
That reversal matters more than a simple first-time allocation, Dr. Stevenson argues. Goldman allegedly held about $153.8 million in XRP funds at the end of last year, reported zero at the end of the first quarter, and later rebuilt a sizable position.
“You don’t accidentally rebuild a position that you deliberately close,” she said.
A 13F Filing Is Just a Snapshot, Not a Trading Diary..
The video centers on institutional 13F disclosures, quarterly SEC reports that show certain long U.S. equity and fund holdings held at quarter-end. Dr. Stevenson stresses that institutions generally access crypto through regulated products such as ETFs rather than directly holding the underlying asset in the manner many retail investors do.
She also acknowledges important limits. A 13F reflects holdings on one day only, meaning it cannot show trades made earlier in the quarter. It also does not reveal short positions, derivatives, hedges or other liabilities. An XRP fund position, therefore, does not necessarily equal an outright bullish bet on XRP.
Those caveats are material. The filing data cited in the video may indicate renewed access to XRP-linked products, client-related activity or a broader trading strategy, rather than a directional conviction on the token itself.
Small Positions Signal Internal Approval, Stevenson Says
Dr. Stevenson also points to reported XRP fund holdings by JPMorgan, Morgan Stanley and Bank of America, alongside firms including Jane Street, Millennium and Italy’s Intesa Sanpaolo. Some disclosed positions were very small; she cited one Morgan Stanley holding of about 67 shares.
Her interpretation is that even minor positions may be meaningful because crypto-related products must pass legal, compliance, risk and custody reviews before appearing on an institution’s books. In that view, the key development is not necessarily the dollar amount but the possibility that XRP-linked exposure is becoming operationally permissible at more large firms.
Still, market aficionados should be careful about treating filings as evidence of coordinated institutional accumulation. Large banks can hold ETF shares for market-making, hedging, client facilitation or internal portfolio purposes. The YouTube video itself notes that a single 13F can be misleading and that trends across multiple reporting periods are more informative.
For the wider crypto market, the claimed return of Goldman’s XRP ETF exposure would be notable if confirmed through filings and sustained in subsequent quarters. It would suggest growing institutional comfort with regulated XRP investment vehicles, while leaving unanswered whether those positions reflect long-term demand or genuine, client-driven activity.
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