Marex Group’s own stock climbed more than 15% in a week after the Nasdaq-listed financial services firm disclosed a combined $9.4 million position across two spot XRP exchange-traded funds, landing it among the top institutional holders of XRP ETF shares in the US.
A Filing That Moved MarketsThat position grew 51% from the previous quarter, when the firm held 173,298 shares. On top of that, Marex bought 286,021 new shares in the Bitwise XRP ETF, worth nearly $4.3 million.
The combined holdings pushed the firm among leading institutional ETF holders. MEX shares closed up 4.20% on Wednesday at $58.25. Year-to-date, the stock is up more than 50%.
The firms ahead of Marex are not small players. Goldman Sachs leads the pack with $152.16 million in XRP ETF exposure. Millennium Management holds more than $27 million across multiple spot XRP funds. Marex sits well behind both, but its aggressive buying in a single quarter set it apart from many of its peers.
Beyond XRP, Marex also added to its position in Strategy, the Bitcoin-focused company formerly known as MicroStrategy and traded under the ticker MSTR. The firm increased its share count from 2.9 million to 3.4 million.
At the same time, it trimmed its call options from 108,100 down to 65,500. It also expanded its stake in Strategy’s perpetual preferred shares, known as STRK, from 4,400 to 16,401.
Steady Amid The Disclosure Institutional Interest In XRP ETFs Keeps BuildingThe Marex filing adds to a growing list of institutional disclosures showing Wall Street firms taking positions in spot XRP funds.
Sustained buying hasn’t been confirmed yet, though Q1 disclosures appear to signal growing confidence.
Featured image from Shutterstock, chart from TradingView
