Bank of Montreal (BMO), one of Canada’s largest financial institutions, reported exposure to XRP through U.S.-regulated exchange-traded funds, according to its latest Form 13F-HR filing with the Securities and Exchange Commission. As of June 30, 2026, BMO managed a portfolio valued at over $303 billion and included XRP-linked ETF shares among its holdings.
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The filing shows BMO held 323 shares of the Rex Osprey XRP ETF and 20 shares of the ProShares Ultra XRP ETF during the reporting period. Both securities offer indirect exposure to XRP’s price action while allowing the institution to avoid the risks associated with direct cryptocurrency custody. The total XRP-related position remains relatively minor compared to BMO’s overall U.S. investment book, but it marks a notable step into crypto for the Canadian bank.
National Bank of Canada also disclosed a stake in the XRP market, holding 3,848 shares of the Bitwise XRP ETF, valued at approximately $330,000. Like BMO, National Bank of Canada chose regulated, listed products on established exchanges instead of purchasing XRP tokens outright.
These filings reflect a trend among traditional financial institutions to use regulated investment vehicles for accessing cryptocurrency markets rather than handling digital assets directly.
Ownership trends shift toward diverse managers
Recent 13F reports indicate a changing mix of institutional XRP ownership. Large asset managers such as Goldman Sachs, who had previously reported positions exceeding $150 million in late 2025 and early 2026, have scaled back or exited their XRP-linked ETFs. During the same timeframe, new entities including Arax Advisory Partners, Gerber, Vista Finance, and Gallacher Capital became prominent holders, using vehicles such as the Franklin XRP Trust, various Bitwise funds, and the leveraged ProShares Ultra XRP ETF.
This shift reflects broader dynamics in the sector, as allocations migrate from major institutional players to a mix of midsized asset managers and family offices. The trend is supported by increased regulatory clarity and growing demand for innovative exposure to digital assets among professional investors.
Form 13F filings show only reportable securities holdings as of the end of each quarter and may not capture real-time trading activity, since these reports can be submitted up to 45 days after the quarter’s close.
Wall Street enters Web3 through tokenized assets
Alongside the adoption of crypto-linked ETFs, a significant transformation is unfolding as Wall Street channels more attention and capital toward Web3 and tokenized real-world assets. While monitoring technical patterns and ETF flows, investors are increasingly turning to platforms such as 1stepSwap, which allow users to hold shares of major U.S. companies, gold, and silver directly in their crypto wallets. This approach eliminates intermediaries by tokenizing real-world assets and using smart algorithms to source the best market prices instantly.
For institutional and retail clients alike, the ability to access a diverse set of assets through tokenization signals changing preferences in portfolio construction and risk management.
BMO’s disclosure underlines the ongoing evolution of the sector, as Canadian banks and global asset managers look for regulated, strategically sound avenues to participate in digital and tokenized assets. Although these positions are still small when compared to their broader portfolios, they signal a cautious yet meaningful integration of crypto-focused products into traditional financial management.
National Bank of Canada and BMO’s use of regulated ETF products also demonstrates an industry-wide preference to minimize custody and compliance challenges while capturing some upside from cryptocurrency markets.
As the landscape for digital asset investment continues to evolve, further shifts in institutional allocation are expected to emerge in upcoming filings.
