Rakuten XRP ETF Holding Puts Institutional Demand in Focus

Rakuten XRP ETF holdings drew attention after U.Today reported that the Japanese conglomerate disclosed shares in a U.S. spot XRP fund. Its Q2 report verifies a Bitwise XRP ETF position, but the cover of its newer SEC filing does not show whether the stake remained at September 30.

What happened with the Rakuten XRP ETF position

U.Today reported on November 13 that Rakuten Group was among institutional holders of U.S. spot XRP ETFs. It said Rakuten held 6,690 Bitwise XRP ETF shares, valued at $111,255 at the end of the third quarter.

The Q2 data records 6,690 shares worth $78,005 as of June 30, according to Disclosery. The SEC filing identifies Rakuten Securities and Rakuten Investment Management among the reporting managers. The SEC Q2 filing is a dated snapshot, not a live account statement.

Rakuten filed another 13F for the quarter ended September 30, signed November 12. Its SEC cover lists six holdings entries with a combined reported value of $930.3 million, but doesn’t identify whether they include XRP ETF shares. U.Today’s $111,255 figure is therefore a report of the later position, not independently verified by the cover information available here. Detailed holdings data is needed to establish whether the stake continued.

U.Today also reported that Rakuten held funds tracking Bitcoin, Ethereum and Solana. Its combined crypto ETF holdings were roughly $6.42 million at quarter-end, including nearly $5.9 million in BlackRock’s iShares Bitcoin Trust, around $263,600 in the iShares Ethereum Trust and about $150,700 in Bitwise’s Solana Staking ETF. U.Today put Rakuten’s broader U.S. equities portfolio at about $1.4 billion.

Background and context for Rakuten XRP ETF holdings

Rakuten is a Japanese technology and financial services group with businesses in e-commerce, mobile service, banking and brokerage. U.Today reported that its services have more than 100 million users in Japan and over 2.1 billion worldwide. FilingExplorer estimated the Q2 stake at about 0.01% of Rakuten’s reported portfolio.

U.S. rules require institutional managers with more than $100 million in U.S. exchange-listed securities to file quarterly 13F reports. These show certain holdings at quarter-end, but not the exact purchase date, whether the position is still held, or whether other investments hedge the exposure. FilingExplorer puts the Q2 XRP ETF stake at about 0.01% of Rakuten’s reported portfolio.

The investment was in ETF shares, not evidence that Rakuten bought XRP into a corporate wallet. Bitwise’s SEC filing describes its XRP ETF as listed on NYSE Arca under ticker XRP and says the trust’s sole asset is XRP. Fund shares and direct token custody are different exposures.

Other institutions also reported these products. CoinDesk, citing SoSoValue and Q2 disclosures, said Goldman Sachs held about $87.4 million in XRP funds, followed by Jane Street at $16.6 million and Millennium Management at $16.2 million. These are dated disclosures, not proof of current or unhedged exposure.

Market context and XRP ETF flows

CoinGecko data at 17:13 UTC on November 13 put XRP at $1.02, down 0.18% in 24 hours and 14.24% over seven days. Bitcoin was down 4.02% over 24 hours at $68,740, while Ethereum fell 3.66% to $1,930.22. These dated price moves provide market context, not evidence of a connection to Rakuten’s filing.

SoSoValue data cited by U.Today showed outflows of $10.42 million on November 9 and $7.62 million on November 10, with no flows recorded on November 11 or 12. Cumulative net inflows were $1.79 billion and total net assets were $1.16 billion. These figures describe fund activity over specific dates and do not establish what flows or XRP performance will be in the future. The Crypto Fear & Greed Index was at 20, classified as Extreme Fear, on November 13.

A reported institutional stake shows exposure on a particular date, but doesn’t explain why the holder acquired it or predict what it may do next.

What to watch next

The detailed holdings information for Rakuten’s September 30 filing should clarify whether the reported 6,690-share position remained, changed in size or was no longer held. Until then, Q2 is the clearly documented snapshot in the research data, while the later valuation remains attributed to U.Today.

Subsequent SoSoValue daily flow data, Bitwise XRP ETF net assets, XRP’s price and further 13F filings may add context, but none explains future market direction on its own. XRP’s price was down 14.24% over the seven days to November 13, according to CoinGecko. That dated market move illustrates that prices can change substantially.

FAQ

What is the Rakuten XRP ETF holding?

Rakuten reported 6,690 Bitwise XRP ETF shares worth $78,005 as of June 30, 2026, according to Q2 filing data. U.Today later reported a $111,255 value at September 30, but the supplied SEC filing cover doesn’t verify that the position continued.

Does Rakuten’s filing mean it owns XRP directly?

No. The disclosed position is in ETF shares. Bitwise’s SEC filing says its fund holds XRP as its sole asset, but that doesn’t show Rakuten directly holds XRP tokens.

Are institutional XRP ETF inflows continuing?

U.Today’s November 13 report cited $1.79 billion in cumulative net inflows, alongside withdrawals on November 9 and 10 and no recorded flows on November 11 and 12. Daily flows change, so these figures are a dated snapshot, not a forecast.

Sources

• SEC FORM 13F-HR, Rakuten Group, Inc., quarter ended June 30, 2026 (www.sec.gov)
• Japanese Giant Rakuten Joins Institutional XRP ETF Holders (U.Today)
• Rakuten Group, Inc. 13F-HR for Q2 2026, filing and reported holdings (disclosery.com)

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies are highly volatile; always do your own research before investing.