Major Firm Discloses Investments in XRP and Bitcoin ETFs

Farmers & Merchants reveals spot XRP and Bitcoin ETF stakes

Farmers & Merchants Investments, which oversees more than $4.1 billion in assets under management (AUM), disclosed new crypto-related positions in its latest SEC 13F filing. The report shows holdings in a Bitwise spot XRP ETF, BlackRock's Bitcoin spot ETF (IBIT), and equity in Robinhood, signaling growing institutional exposure to digital-asset products.

Holdings and estimated value

The filing lists 2,374 units of the Bitwise XRP spot ETF, with an estimated market value near $30,000. While this is a small fraction of the firm's overall portfolio, the position is notable as a sign of institutional interest in XRP-based investment vehicles. Farmers & Merchants also reported ownership of 261 units of BlackRock's IBIT and 475 shares of Robinhood.

ETF inflows and market context

Data from SoSoValue shows spot XRP ETFs recorded $2.49 million in inflows in a single day, bringing cumulative assets to approximately $1.49 billion. Spot Bitcoin ETFs continued to attract capital as well, with $226.8 million in new inflows recently; BlackRock's IBIT secured the largest share, about $116.5 million. These flows coincide with clearer regulatory guidance in the US and expanding use cases for the XRPL in tokenization and asset digitization.

Implications for institutional adoption

Even modest allocations by a mid-sized asset manager can have outsized signaling value. The inclusion of spot XRP and Bitcoin ETFs in a regulated portfolio highlights growing comfort among institutional investors with regulated crypto products. This trend supports further development of the crypto ETF market and may encourage other asset managers to consider exposure to digital assets.

Robinhood reaction and analyst coverage

Major financial firms including Bernstein, Morgan Stanley, Barclays, and Goldman Sachs have reiterated buy recommendations for Robinhood. Following the 13F disclosure and analyst support, Robinhood shares rose about 2.9% in pre-market trading to $102.14, reflecting renewed investor interest in retail crypto access and fintech platforms.

Overall, the filing underscores a gradual shift: institutional investors are adding regulated crypto ETFs to diversified portfolios while market infrastructure and regulatory clarity continue to improve for XRP, Bitcoin, and tokenization on XRPL.