Which major financial institutions are involved with XRP?

The full answer

Which institutions have a documented role with XRP as of September 2026?

This page keeps only the roles that a filing or report held in the project documents.

The clearest group is the US funds that hold XRP. Bitcoin.com News reported on September 28, 2026 that custodians for seven US funds held 1,179.62 million XRP, equal to 1.18% of the fixed 100 billion supply [1]. By its count on that date, Bitwise’s fund held 413.1 million XRP, Franklin Templeton’s XRPZ 293.1 million and Canary Capital’s XRPC 249.8 million. Behind them were 21Shares’ TOXR at 107.4 million, Grayscale’s GXRP at 59.8 million, Rex-Osprey’s XRPR at 35.2 million and 21.2 million inside BITW, Bitwise’s broader index fund [1].

The funds’ own filings name the firms that serve them. The Bitwise XRP ETF’s 10-Q for the quarter ended March 31, 2026 names Coinbase Custody Trust Company as custodian of the fund’s XRP [2]. The same filing names BNY Mellon as cash custodian and Coinbase Inc. as prime execution agent. It also says the fund sets its net asset value by reference to the CME CF XRP - Dollar Reference Rate - New York Variant, published by CF Benchmarks Ltd. [2]. In this record, CME appears as a name on a price benchmark. The project’s evidence on CME’s futures market is on the page about how big CME XRP futures trading is.

The Canary XRP ETF’s 10-Q for the quarter ended June 30, 2026 names Coinbase Custody and BitGo Trust as the custodians responsible for safekeeping its XRP [3]. The Franklin XRP Trust’s 10-Q lists 225,368,820.7314 XRP held at June 30, 2026 [4]. The Grayscale XRP Trust ETF’s 10-Q for the quarter ended March 31, 2026 names Coinbase Custody Trust Company as custodian and The Bank of New York Mellon as transfer agent [5]. The XRP Insights tracker, updated September 30, 2026, lists Coinbase Custody as the XRP custodian for Bitwise, Franklin Templeton, Grayscale and 21Shares [6]. The project’s wider evidence on custody is on the page asking whether regulated institutions can safely custody XRP.

Outside the funds, Bitcoin.com News described Evernorth on September 28, 2026 as an XRP treasury firm with Nasdaq listing plans [1]. None of the cited sources states how much XRP Evernorth holds. The page on what Evernorth is and who backs it covers the company in detail.

Which of these firms hold XRP, which only provide services around it, and which appear incidentally?

This sorting is Analysis, built from the records above.

Holders. The fund trusts hold XRP. The six sponsors are Bitwise, Franklin Templeton, Canary Capital, Grayscale, 21Shares and REX-Osprey, and Bitwise also runs the BITW index fund [1]. Evernorth is described as a treasury company [1], but its holding is not in the fetched sources.

Service providers. Coinbase Custody and BitGo hold the funds’ XRP [2][3][5][6]. BNY Mellon and U.S. Bank hold cash or keep share records [2][3][5]. Coinbase Inc. executes trades for Bitwise’s fund [2]. CF Benchmarks publishes the rate that values it [2]. None of these filings shows the banks holding XRP themselves.

Incidental names. Grayscale’s filing lists the trading platforms whose prices feed its index as of March 31, 2026: Binance, Bitstamp by Robinhood, Bullish, Bybit, Crypto.com, GATE, Gemini, Hashkey, Kraken, LMAX Digital and OKX [5]. That is how Kraken enters this record. JPMorgan Securities, BofA Securities and a Schwab money fund appear through repo collateral, covered in the next section. Large trading firms and banks appear as holders of ETF shares, covered in the page on who owns XRP ETFs and what 13F filings show.

What does the Schwab money fund filing show?

Bitcoin.com News reported on September 9, 2026 on the Schwab Prime Advantage Money Fund’s N-MFP3 report for the period ended August 31, 2026 [7]. According to that report, the filing lists shares of the Grayscale, Canary, Franklin and Bitwise XRP ETFs as collateral on five repurchase agreements worth $3.99 billion. JPMorgan Securities and BofA Securities are the counterparties, and XRP ETF collateral totalled $8.32 million in August [7]. Bitcoin.com said the filing was made on September 8 and that eight of roughly 26,000 collateral line items name XRP products [7]. It also reported that each of the eight XRP collateral line items represents a fraction of a percent of the fund’s net assets [7]. The report lists JP Morgan Securities as counterparty on four of the five repurchase agreements and BofA Securities on the fifth [7].

The same report says the Schwab fund did not buy XRP ETFs, because a prime money market fund is not permitted to [7]. The fund lends cash, and the broker-dealer borrowing that cash posts a basket of securities as security against the loan [7]. By this page’s arithmetic, the $8.32 million of XRP ETF collateral is about 0.2% of the $3.99 billion across the five agreements. The page on whether XRP ETF shares are being used as repo collateral covers this in full.

Who ran Ripple’s survey, who answered it, and how does 72% compare with independent surveys?

Ripple ran the survey and published a preview on March 19, 2026 [8]. Ripple says it surveyed more than 1,000 global finance leaders across banks, asset managers, fintechs and corporates at the start of 2026 [8]. By Ripple’s count, 72% of respondents believe finance leaders must offer a digital asset solution to remain competitive [8]. Ripple reported that 74% of corporates plan to work with partners that offer the solutions they want [8]. It also reported that 89% of respondents evaluating tokenization partners rank digital asset storage and custody as a top priority [8]. According to Ripple, respondents’ named concerns included regulatory clarity (40%), security and safekeeping (37%), compliance requirements (30%) and price volatility (29%) [8].

Ripple’s own page lists Payments, Custody, Stablecoin, Prime Brokerage and Treasury Management among its products [8]. The company that ran the survey sells the kind of solution the 72% figure describes. The question asks about digital assets in general, so the figure says nothing about XRP use.

Which names on the circulating list have no support in the project’s sources?

What is the strongest evidence against reading this roster as deep involvement?

Bitcoin.com News reported on September 9, 2026 that disclosed institutional ownership of XRP ETFs remains thin and concentrated. By its count, Goldman Sachs, Millennium Management, Intesa Sanpaolo and Jane Street account for the majority of the top 30 holders [7]. The same report said the five major US spot XRP products carried a $746.1 million paper loss at the end of June 2026, and that an $8 million collateral line does not offset any of that [7]. On September 28, 2026, Bitcoin.com reported SoSoValue figures showing total net assets of $1.77 billion against $1.79 billion of cumulative net inflows [1]. Grayscale’s 10-Q reports that its XRP fund’s net assets fell 72% in the three months to March 31, 2026 [5].

Many names on the circulating list sit one step away from XRP: they hold cash, record shares, price the asset or accept ETF shares inside a larger collateral basket. The page asking whether Ripple partnership announcements mean demand for XRP sets out the case that such links do not add up to use of the asset. The page on whether banks actually use XRP covers the payment side. The page on whether XRPL institutional announcements are becoming live products tracks which announced projects have gone live.