Canada’s second-largest bank, Bank of Montreal (BMO), has officially disclosed holdings in XRP-focused exchange-traded funds in its latest quarterly Form 13F-HR filing with the U.S. Securities and Exchange Commission (SEC).
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AAPLBMO’s XRP ETF exposure
The filing confirmed that BMO, which manages assets exceeding $303 billion as of the end of June 2026, holds 323 shares of the Rex Osprey XRP ETF and 20 shares of the ProShares Ultra XRP ETF. Both of these financial vehicles focus on providing exposure to the price movements of the XRP cryptocurrency, but do so via regulated U.S. ETF structures.
Rather than purchasing XRP tokens directly through exchanges, BMO has chosen to invest through these regulated ETF products. This approach allows the bank to gain exposure to XRP price fluctuations within a legal and operational framework it already uses, minimizing the risks associated with direct token custody.
Bank of Montreal, commonly referred to as BMO, is one of Canada’s largest financial institutions, serving millions of clients globally through a range of banking and investment services.
Mini dictionary: Rex Osprey XRP ETF and ProShares Ultra XRP ETF—Regulated funds available to institutional investors in the U.S., providing exposure to the price movements of XRP through traditional equity market channels rather than direct cryptocurrency holdings.
Canadian banks increasingly embrace regulated crypto funds
This trend is mirrored across Canada’s major banks. In the same reporting period, National Bank of Canada reported a position of 3,848 shares in the Bitwise XRP ETF, valued at approximately $330,000. Rather than making direct purchases of digital tokens, these leading banks prefer regulated and transparent ETF structures to cautiously enter the cryptocurrency market.
Institutional investors are following a consistent strategy: selectively gaining exposure to cryptocurrencies through regulated financial products while maintaining compliance with established frameworks and risk controls.
| Bank | XRP ETF/Fund Holdings | Estimated Value |
|---|---|---|
| Bank of Montreal | 323 Rex Osprey XRP ETF shares, 20 ProShares Ultra XRP ETF shares | Not disclosed |
| National Bank of Canada | 3,848 Bitwise XRP ETF shares | $330,000 |
Shift in institutional XRP holders
Recent 13F filings have highlighted a significant shift among major XRP holders. Large, early-stage participants such as Goldman Sachs, which once managed positions exceeding $150 million at the turn of 2025–2026, have scaled back or fully liquidated their XRP holdings by mid-2026, realizing their profits.
Taking their place is a rising group of midsize asset management firms and family offices. Notable entrants include Arax Advisory Partners, Gerber, Vista Finance, and Gallacher Capital. These investors are distributing their capital across both traditional spot-based funds, such as the Franklin XRP Trust and Bitwise products, and more short-term leveraged ETFs, including the ProShares Ultra XRP ETF.
Major Canadian banks have adopted a model of engaging with cryptocurrency markets exclusively through transparent, regulated funds, signaling a robust but cautious approach to digital asset integration.
As 13F filings are made public with a 45-day lag, these disclosures offer only a partial view of the current holdings. However, BMO’s confirmation signals that XRP has secured a place within the asset mix of another prominent North American bank.
