Bank of Montreal’s $303.65 billion consolidated securities filing reports $2,970 of XRP fund shares, split between two exchange-traded products. The disclosure traces both positions to a controlled investment adviser without identifying their beneficial owner.
Key Takeaways
A Bank of Montreal-controlled investment adviser managed about $3,000 worth of XRP fund shares.The filing does not identify the beneficial owner or investment strategy.One fund seeks to follow XRP, while the other targets twice its daily move.Two entries carry the whole exposure, and both are attributed to Stoker Ostler Wealth Advisors Inc., a Bank of Montreal-controlled investment adviser listed as other manager 12 in the filing. One line shows 323 shares of the REX-Osprey XRP ETF at $2,771. The other lists 20 shares of the Proshares Ultra XRP ETF at $199.
The combined stake equals roughly one part in 102 million of the reported securities, or 0.000001% of their total value. Per-share arithmetic produces implied filing values of $8.58 for the REX-Osprey fund and $9.95 for the Proshares product.
How Large Is Bank of Montreal? What a 13F Filing CapturesForm 13F obliges institutional managers that exercise investment discretion over Section 13(f) securities worth $100 million or more to disclose reportable holdings every quarter. The form omits short positions, direct token custody and any trade executed after the snapshot date.
Investment discretion means authority to select securities for an account, not ownership of the money or assets in that account. SEC rules deem Bank of Montreal to share that authority with controlled managers such as Stoker Ostler, allowing their positions to appear in its consolidated filing.
Reports can arrive up to 45 days after the end of each quarter, so a June 30 picture reaches the public in mid-August. Changes after June 30 are absent, while the next filing will disclose only reportable securities held on Sept. 30.
Is the REX-Osprey Fund a Spot XRP ETF?The Proshares product differs again, since it pursues twice XRP’s daily performance through futures and other derivatives rather than plain price tracking. Coverage that groups both funds together as spot exposure blurs a distinction that changes each share’s role in a portfolio.
What the XRP Fund Position Actually RepresentsNothing in the disclosure identifies the beneficial owner, account type, or investment purpose behind either holding. Stoker Ostler may have managed the shares for advisory clients, so neither its inclusion nor Bank of Montreal’s consolidated filing establishes that either company beneficially owned the position.
