Bank of Montreal’s Involvement in XRP Assets
In a recent update to its quarterly investment report, the Bank of Montreal (BMO), which stands as Canada’s second-largest financial institution, has revealed its involvement in XRP-related assets. This information surfaced within a Form 13F-HR filing submitted to the U.S. Securities and Exchange Commission (SEC), signifying the bank’s official recognition of XRP in its extensive investment portfolio, valued at over $303 billion as of the end of June 2026.
Investment Strategy and ETF Holdings
BMO’s reported investments encompass positions in specific exchange-traded funds (ETFs) that are centered around XRP, including 323 shares in the Rex Osprey XRP ETF and 20 shares in the ProShares Ultra XRP ETF. Importantly, BMO did not engage in direct purchases of XRP tokens on cryptocurrency exchanges; rather, it opted for structured and regulated U.S. financial products. This strategic choice enables the bank to incorporate the inherently volatile cryptocurrency into its vast portfolio while adhering to established legal guidelines and minimizing custody-related risks.
Broader Trends in Canadian Banking
This trend of cautious entry into the cryptocurrency space among financial institutions is not isolated to BMO. Earlier, the National Bank of Canada reported holding 3,848 shares in the Bitwise XRP ETF, valued at around $330,000. Such moves reflect a broader strategy prevalent in Canada’s banking landscape, where conservative capital approaches the digital asset realm through clearly defined and transparent investment vehicles.
Shifts in XRP Investor Composition
Moreover, BMO’s disclosures also illustrate a significant shift in the composition of XRP investors. Prominent firms like Goldman Sachs, which previously held substantial XRP positions exceeding $150 million around the 2025-2026 period, have significantly reduced or eliminated their stakes by the summer, securing profits. In their wake, a cohort of mid-sized asset managers and family offices—such as Arax Advisory Partners, Gerber, Vista Finance, and Gallacher Capital—has emerged to take advantage of the situation. These new players exhibit a more adaptive investment strategy, diversifying their allocations between traditional spot funds like the Franklin XRP Trust and Bitwise, alongside leveraged products such as the ProShares Ultra XRP ETF.
Although these 13F filings provide a delay of 45 days before publication, offering only a glimpse of the evolving landscape, BMO’s recent filing unmistakably indicates that XRP has now been adopted by another major banking entity in its investment arsenal.
