Web3: National Bank of Canada discloses holdings of XRP and Bitcoin ETF

The latest holdings disclosure from National Bank of Canada shows that this traditional financial institution has allocated crypto assets through US-listed ETFs. These positions include Bitwise’s XRP ETF as well as several Bitcoin ETFs. Based on the disclosed data, the total value of these crypto ETF holdings is approximately $6.98 million.

XRP ETF Position Relatively Small

Company disclosures show that the bank holds about $330,000 worth of Bitwise XRP ETF. Unlike directly purchasing XRP, this type of product allows institutions to gain price exposure through regulated securities instruments.

At this stage, institutional allocation to the XRP ETF is still in the early stages of development, which is why this position has attracted attention. Reports note that National Bank of Canada had previously appeared on Bitwise XRP ETF’s list of institutional holders, indicating that its allocation to this product is not being disclosed in regulatory filings for the first time.

Bitcoin ETFs Account for the Main Portion

Looking at the overall structure, Bitcoin ETFs make up the vast majority of the bank’s crypto allocations, with the XRP ETF accounting for only a small percentage. This also reflects that traditional financial institutions still prefer more liquid and mature Bitcoin-related products when entering the crypto market.

The article does not list all Bitcoin ETF names individually, but clearly states that these products collectively represent the bulk of the bank’s crypto ETF exposure.

Recent Inflows to XRP Funds Slow Down

This holding disclosure comes at a time when capital inflows into XRP ETF products have recently slowed. SoSoValue data shows that on August 7 and August 10, the single-day net inflow for the XRP ETF was zero; however, on August 6, this type of product still recorded an approximately $3.45 million net inflow.

Asset size has also decreased. Data indicates that total assets in the XRP ETF dropped from about $993.38 million on August 5 to about $950.05 million on August 10. Nevertheless, cumulative net inflows are still around $1.51 billion, indicating that these products overall have continued to attract significant capital.

Market Prices Also Weaken

In terms of price, XRP fell around 2.4% on the day to near $1; Bitcoin fell about 1.1% to around $64,287. The broader market downturn is also intensifying short-term pressure on related ETF products.

Additional Information: Company disclosures show that among the bank’s newly reported crypto ETF positions, the amount allocated to XRP products is significantly lower than that for Bitcoin ETFs, further indicating its allocation remains primarily Bitcoin-focused.