Breaking: Bank of America (BofA) Reveals Holdings in This XRP ETF

Varinder Singh
4 hours ago
Varinder Singh

Varinder Singh

Independent Sr. Journalist
Expertise : Bitcoin, Crypto, Global Macro, DeFi, Blockchain, Web3, US Stocks, AI, Regulations and Lawsuits, & More
Varinder is a seasoned leader in the fintech and crypto media with over 12 years of experience, including over 6 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 6000 news articles and papers.
Read full bio
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Bank of America (BofA) Reveals Holdings in This XRP ETF

Highlights

  • Bank of America has disclosed exposure in XRP via exchange traded fund.
  • BofA holds 13,000 shares of the Volatility Shares XRP ETF.
  • Spot XRP ETFs saw $19.46 million in inflows on Tuesday.
  • XRP price dips below $1.60 as it remains under pressure amid selloffs.

In a major XRP news today, Bank of America (BofA) has disclosed significant exposure in XRP through investment in an XRP exchange-traded fund (ETF). The leading bank has continued to deepen its partnership with Ripple, exploring cross-border payments and RLUSD stablecoin.

Bank of America Discloses XRP ETF Holdings

According to the latest US SEC filing dated February 3, Bank of America (BofA) holds 13,000 shares of the Volatility Shares XRP ETF. It signals the banking giant’s deeper engagement with XRP beyond payments.

While the holding, worth $224,640, is relatively modest compared to BofA’s overall portfolio, the move highlights a strategic effort to gain regulated exposure to XRP via Volatility Shares XRP ETF. The disclosure comes amid broader institutional momentum for crypto, including XRP.

BofA began recommending crypto allocations of up to 4% to wealth management clients, initially focusing on spot Bitcoin ETFs. The bank has been working with Ripple for a long time, as Ripple President Monica Long revealed that the Bank of America CEO stated they are all in XRP.

Can XRP Price Rebound?

The US-listed spot XRP ETFs continue to see strong demand from institutions, recording only a few outflows since their launch. However, some have sold holdings despite inflows in XRP ETFs.

CoinGape reported that Grayscale insiders are selling XRP ETF holdings. Notably, DCG International Investments Ltd sold more than 19,000 GXRP shares as XRP price dropped below $1.60.

On Tuesday, spot XRP ETFs saw $19.46 million in inflows. Franklin’s XRPZ and Bitwise XRP ETF led with $12.13 million and $4.82 million, respectively.

XRP price has tanked 1% to $1.58 in the past 24 hours. The 24-hour low and high are $1.53 and $1.63, respectively. However, trading volume has increased by 24% in the last 24 hours.

The derivatives market showed selling pressure continuing in the last few hours, with no signs of rebound. The total XRP futures open interest dropped more than 4% to $2.65 in 24 hours. The 4-hour XRP futures open interest was down more than 1%. Notably, open interests on CME fell by more than 1% and 0.46% on Binance.

Advertisement
coingape google news

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Newsletter
Your crypto brief.
Delivered every day.
  • Insights that move markets
  • 100,000 active subscribers
By signing-up you agree to our Terms and Conditions and Privacy Policy.
About Author
About Author
Varinder is a seasoned leader in the fintech and crypto media with over 12 years of experience, including over 6 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 6000 news articles and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.