National Bank of Canada has disclosed holdings in US-listed crypto investment products, including shares tied to an XRP ETF and several Bitcoin ETF positions.
The disclosure came through a Form 13F filing covering holdings as of June 30, 2026. The bank reported 3,848 shares of Bitwise’s XRP ETF, valued at roughly $330,000, along with approximately $6.4 million in ProShares and Fidelity Bitcoin ETF exposure.
The distinction here is important.
This is ETF exposure, not direct custody of XRP or BTC. The bank is not being reported as holding physical tokens on-chain. It is reporting positions in listed investment products.
Still, the filing is notable because it shows regulated financial institutions continuing to use crypto wrappers for portfolio exposure.
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TL;DR
- National Bank of Canada disclosed XRP and Bitcoin ETF holdings in a Form 13F.
- The positions include Bitwise XRP ETF shares and Bitcoin ETF exposure.
- The filing reflects ETF holdings, not direct XRP or BTC custody.
Why The Filing Matters
13F filings are useful because they show what large investment managers held at the end of a reporting period.
They are backward-looking and incomplete in some ways, but they still give the market a window into institutional positioning. When a major bank reports crypto ETF holdings, it adds another data point to the institutional adoption story.
The XRP exposure is especially interesting because Bitcoin ETF positions are now more common.
XRP-linked ETF exposure suggests institutions are at least testing broader crypto products beyond BTC, even if the dollar amount remains relatively small.
A $330,000 XRP ETF position is not enormous for a major bank. But it is visible, regulated exposure.
ETF Exposure Is Not The Same As Token Ownership
This cannot be overstated.
Holding shares of an ETF or trust is different from holding XRP or Bitcoin directly. The bank owns a security that tracks or references crypto exposure. It does not necessarily hold private keys, run wallets, or custody tokens.
That matters for interpretation.
Direct crypto custody would say something different about operational readiness and risk tolerance. ETF exposure says the institution is comfortable with listed crypto products inside a securities framework.
That is still meaningful, but it is a different kind of adoption.
Bitcoin Products Remain The Larger Position
The reported Bitcoin ETF exposure of around $6.4 million is much larger than the XRP ETF position.
That reflects the broader institutional hierarchy in crypto. Bitcoin remains the most accepted asset for traditional investors. It has the deepest ETF market, strongest macro narrative, and clearest institutional positioning.
XRP exposure is smaller and likely more exploratory.
That does not make it irrelevant. It simply shows that broader altcoin ETF adoption is still at an earlier stage.
What This Means For XRP
For XRP supporters, the filing gives a concrete institutional data point.
It shows that at least some regulated portfolios are willing to hold XRP-linked products. That may support the argument that XRP is moving further into traditional-market infrastructure.
But the size and structure matter.
This is not a major direct allocation to XRP. It is a relatively small ETF position inside a broader securities filing.
The clean read is that XRP-linked products are appearing in institutional portfolios, but still at modest scale.
The Bigger Institutional Trend
The broader story is the continued normalization of crypto exposure through wrappers.
Banks and asset managers do not need to custody tokens directly to participate in the market. They can use ETFs, trusts, futures, structured products, and other regulated instruments.
That makes crypto easier to fit into existing compliance systems.
National Bank of Canada’s filing is another example of that path.
Institutions may not all become on-chain users immediately. Many will start with products that look and settle like securities.
For Bitcoin, that trend is already established. For XRP and other assets, it is still developing.
This article is based on National Bank of Canada’s August 2026 Form 13F filing.
This article was written by the News Desk and edited by Samuel Rae.
