Goldman Sachs has increased its holdings of XRP spot ETFs again after selling out its entire position in the previous quarter.

On Aug. 24 local time, blockchain outlet CoinPost reported that Goldman Sachs disclosed in a 13F report filed with the U.S. Securities and Exchange Commission that it held about $86.5 million in five XRP spot ETFs as of June 30.

The filing is drawing attention because it shows Goldman Sachs re-entered XRP-related ETF investments after one quarter. Goldman Sachs had been the largest institutional holder of XRP spot ETFs in the fourth quarter of 2025 with $153.8 million, but sold the position entirely in the first quarter of 2026. It has now increased holdings again, restoring XRP-related exposure.

By holdings, Franklin Templeton’s XRP Trust XRPZ was the largest at 2,238,407 shares. Bitwise’s XRP ETF followed with 2,208,949 shares. By value, however, the Bitwise product was $25,756,345, slightly above Franklin Templeton’s $25,405,919.

Goldman Sachs also held the remaining three products. Canary Capital’s XRP ETF totaled 1,759,090 shares, valued at about $19,490,717. 21Shares’ XRP ETF stood at 806,126 shares, about $8,206,363. Grayscale’s XRP ETF was 377,619 shares, about $7,646,785. The combined value of the five funds was about $86,506,129.

The figures show holdings as of the end of the quarter. A 13F report discloses holdings at each quarter-end and does not reflect intra-quarter trades or exposure through derivatives. The increase should therefore be seen as a quarter-end snapshot rather than a definitive view on market direction.

XRP-related ETFs account for a small share of Goldman Sachs’ total assets under management. The 13F is a comprehensive filing covering Goldman Sachs Group’s overall institutional investment management assets, and the information table included 14,070 positions. The total market value was $1.1516 trillion. XRP-related ETF holdings were only part of that.

Goldman Sachs also disclosed that, in addition to XRP spot ETFs, it held 365,976 shares of the SPAC Armada Acquisition Corp II. The holding was valued at about $3,813,470. The SPAC has signed a business combination agreement with Evernorth, an XRP treasury company backed by Ripple.

Evernorth’s listing plan is also a point of market interest. Once the merger is completed, Evernorth plans to list on Nasdaq under the ticker symbol XRPN. Separate from resuming XRP spot ETF holdings, Goldman Sachs is also pursuing XRP-related investment through a SPAC route.

The filing shows large financial institutions are again increasing exposure to XRP-related products. But because intra-quarter trading flows and derivatives positions are not disclosed, market attention is expected to focus on whether holdings continue in future filings and whether Evernorth’s Nasdaq listing process proceeds as planned.