Morgan Stanley Reveals XRP ETF Holdings in New SEC Filing
Morgan Stanley Reveals XRP Exposure Through Franklin, REX-Osprey and Bitwise ETFs
Morgan Stanley has disclosed exposure to XRP through three exchange-traded funds, adding another major financial institution to the growing list of traditional firms gaining access to the cryptocurrency through regulated investment products.
The disclosure came in the bank’s latest regulatory filing and showed positions across XRP investment products managed by Franklin Templeton, REX-Osprey and Bitwise. Rather than holding XRP directly, Morgan Stanley’s reported positions give the banking giant exposure through exchange-traded products that operate within the traditional financial system.
The filing highlights how institutional participation in XRP is increasingly developing through regulated investment vehicles. For large financial institutions, ETFs can provide a familiar structure for gaining cryptocurrency exposure without the operational requirements associated with directly purchasing, storing or securing digital assets.
Morgan Stanley Discloses Three XRP ETF Positions
Morgan Stanley reported holding 6,715 shares of the Franklin XRP ETF, making it the bank’s largest disclosed XRP position among the three products listed in the filing.
The bank also reported 255 shares of the REX-Osprey XRP ETF and 67 shares of the Bitwise XRP ETF. While the individual positions are relatively small compared with Morgan Stanley’s overall investment portfolio, the disclosure is notable because it demonstrates exposure to XRP through multiple investment vehicles rather than a single fund.
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| Source: Xpost |
The structure also allows the bank to participate in XRP’s market through securities infrastructure that is more familiar to institutional investors.
Instead of managing XRP wallets, private keys or direct cryptocurrency custody, institutions can obtain exposure through exchange-traded products. This approach can simplify investment operations while maintaining the regulatory and reporting framework associated with traditional securities.
Morgan Stanley’s disclosure therefore adds to evidence that XRP is becoming increasingly accessible to major financial institutions through conventional investment channels.
Morgan Stanley Also Reports Armada Acquisition Corp II Shares
The filing also showed that Morgan Stanley held 50,540 shares of Armada Acquisition Corp II.
That position provides another connection to the broader XRP investment ecosystem because Armada Acquisition Corp II is associated with Evernorth Holdings, a company pursuing an institutional XRP treasury strategy.
Evernorth has been positioning itself as a dedicated digital asset treasury company focused on XRP. Its proposed transaction with Armada Acquisition Corp II is designed to provide public-market investors with exposure to a company whose strategy is centered on accumulating and managing XRP.
Morgan Stanley’s holdings in Armada therefore represent another indirect connection to the XRP ecosystem beyond its direct exposure through exchange-traded funds.
However, the bank’s disclosed XRP ETF positions remain relatively modest when compared with its broader exposure to major cryptocurrency investment products, particularly those tied to Bitcoin and Ethereum.
The latest filing nonetheless shows that XRP is becoming part of the wider institutional cryptocurrency investment landscape.
Why XRP ETFs Matter to Institutional Investors
The growth of XRP exchange-traded products gives institutional investors another route into the digital asset market.
Direct cryptocurrency ownership can involve additional considerations, including custody arrangements, wallet management, private-key security and operational controls. ETFs and similar investment products can reduce some of those complexities by packaging cryptocurrency exposure into securities that can be held through conventional investment accounts.
For banks and asset managers, this distinction can be important.
Institutional investors often operate under strict compliance, risk-management and reporting requirements. Investing through regulated products can therefore provide a more familiar structure than directly acquiring and managing cryptocurrency.
Morgan Stanley’s decision to report positions across Franklin Templeton, REX-Osprey and Bitwise indicates that the bank is not relying exclusively on one XRP investment vehicle.
Instead, its exposure is distributed among multiple products, providing an example of how institutional investors can approach the emerging XRP ETF market.
U.S. XRP ETFs Hold $942.25 Million in Net Assets
Morgan Stanley’s disclosure comes as the broader U.S. XRP ETF market continues to attract capital.
According to SoSoValue data cited in the original report, U.S. spot XRP ETFs held approximately $942.25 million in combined net assets on August 13. The products also recorded $2.25 million in daily net inflows, taking cumulative net inflows to approximately $1.51 billion.
Bitwise accounted for the entire $2.25 million daily inflow. The fund held approximately $301.46 million in net assets.
Franklin’s XRPZ held $241.97 million in assets and recorded approximately $426.53 million in cumulative net inflows.
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| Source: SoSoValue |
Canary’s XRPC reported $234.08 million in net assets, while cumulative net inflows reached approximately $468.12 million.
Meanwhile, 21Shares’ TOXR held $109.23 million in net assets, and Grayscale’s GXRP accounted for approximately $55.51 million.
Across the tracked products, total trading value reached $7.88 million. Bitwise accounted for $4.83 million of that activity.
These figures provide broader context for Morgan Stanley’s disclosure. Although the bank’s individual ETF holdings are not particularly large relative to the overall XRP investment market, they come at a time when XRP-related exchange-traded products are building a measurable institutional asset base.
Institutional XRP Exposure Continues to Develop
The latest Morgan Stanley filing does not necessarily indicate a major shift in the bank’s overall cryptocurrency investment strategy. However, it demonstrates that XRP exposure is increasingly appearing inside traditional financial portfolios.
The use of multiple ETF products also reflects the expanding range of XRP investment options available to professional investors.
For XRP, institutional participation through regulated products could become an increasingly important part of the asset’s market structure. Rather than requiring every institution to purchase XRP directly, ETFs provide an alternative route that can fit more easily into existing portfolio-management systems.
At the same time, investors should distinguish between ETF exposure and direct ownership. Holding shares of an XRP ETF does not give an investor direct custody of XRP, and the performance of an investment product can be affected by fees, structure and other factors in addition to the underlying cryptocurrency’s price.
Morgan Stanley’s latest disclosure nevertheless adds another prominent name to the institutional XRP story.
With 6,715 shares of the Franklin XRP ETF, 255 shares of the REX-Osprey XRP ETF and 67 shares of the Bitwise XRP ETF, the bank has demonstrated exposure across three separate XRP products.
Meanwhile, the broader U.S. XRP ETF market held $942.25 million in net assets as of August 13, with cumulative net inflows of approximately $1.51 billion.
As regulated cryptocurrency investment products continue to develop, disclosures from major financial institutions such as Morgan Stanley could offer investors an increasingly important window into how traditional finance is approaching XRP.
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Crypto Market Analyst & Onchain Storyteller
Barland Vex is a veteran crypto writer who treats the chaos of digital markets as his playground. With a sharp instinct for reading Bitcoin's movements, DeFi waves, and the narratives that move millions of dollars in a matter of hours, Vex delivers analysis that's always one step ahead of the market itself.