Bank of Montreal has placed XRP-linked fund positions inside its massive investment portfolio, according to a new regulatory filing. The Canadian lender submitted a new Form 13F-HR report to the U.S. Securities and Exchange Commission, confirming the token's presence for the first time. BMO's total reportable holdings exceeded $303 billion at the close of June 2026, making the bank one of the largest institutions to disclose crypto-linked assets this quarter.
BMO’s XRP Fund Positions
The filing lists 323 shares of the Rex Osprey XRP ETF, a spot fund tied directly to the token's price. It also reports 20 shares of the ProShares Ultra XRP ETF, a leveraged product designed for short-term moves. Both positions sit within BMO's much larger equity and fund portfolio, and neither represents a significant share of total assets.
BMO did not buy XRP tokens directly on any cryptocurrency exchange, and it avoided that route entirely. Instead, the bank used regulated U.S. exchange-traded fund infrastructure to gain exposure, which kept the transaction within familiar securities rules. Regulated ETFs also let large institutions report holdings through standard filing channels, so compliance teams face fewer complications.
This structure additionally removes the need for BMO to store or secure the underlying token itself. Fund managers behind the ETFs handle custody, settlement, and daily price tracking on the bank's behalf. As a result, BMO gains market exposure while transferring operational and security risk to a third party.
National Bank of Canada Set an Earlier Precedent
National Bank of Canada disclosed similar XRP exposure earlier in the same reporting period, and its filing arrived before BMO's. The bank reported 3,848 shares of the Bitwise XRP ETF, a spot product tracking the token's market price directly. That stake carried an approximate value of $330,000 at the time of filing.
Together, the two Canadian banks now share a nearly identical approach to digital asset exposure. Each institution enters the market through transparent, SEC-regulated fund vehicles rather than direct token purchases. Neither bank holds XRP on its own balance sheet outside these fund wrappers, and both rely on third-party custody.
This shared pattern points to a wider shift among Canada's largest financial institutions. Big banks increasingly treat XRP funds as a small but manageable portfolio addition rather than a speculative outlier. Further disclosures from other Canadian lenders could follow in upcoming quarterly filings, given this emerging pattern.
A New Group of XRP Holders Emerges
Goldman Sachs previously held XRP positions worth more than $150 million, and that stake formed around the turn of 2025 and 2026. The firm reduced or fully exited those holdings by the summer of 2026, according to filing data. This shift effectively locked in profits and marked the end of Goldman's early XRP position.
A newer group of midsize asset managers and family offices has since filled that space. Arax Advisory Partners, Gerber, Vista Finance, and Gallacher Capital now appear among the reported XRP fund holders. Each firm builds its own combination of spot and leveraged token exposure across different funds.
These newer holders typically split capital between traditional spot products and short-term leveraged instruments. The Franklin XRP Trust and Bitwise XRP ETF represent the spot side of that split. The ProShares Ultra XRP ETF, meanwhile, adds leveraged and more volatile exposure to the same overall strategy.
Because 13F filings carry a 45-day reporting delay, they offer only a snapshot rather than a live position update. Positions can change significantly between the reporting date and public disclosure, so current holdings may already differ. Even so, BMO's filing confirms that XRP now sits on another major bank's balance sheet, alongside a growing list of regulated institutions.
