- UBS revealed a nearly $1.6 million exposure to XRP via ETFs, which many believe could signal the bank’s potential accumulation of the asset over time.
- The speculation coincides with reports that the institution is planning to launch its own crypto trading desk.
Leading multinational Swiss investment bank and financial services company UBS has recently disclosed its updated investment portfolio to the US Securities and Exchange Commission (SEC). The quarterly filing ending on March 31 revealed its growing cryptocurrency exposure.
Interestingly, the bank appears to be testing the waters with XRP, adding the coin to its long line of crypto-related investments via exchange-traded products (ETPs).
XRP Exposure of UBS
UBS’s latest 13F submission revealed that it held 197,367 shares of Volatility Shares XRP Exchange-Traded Fund (ETF). It’s by far the institution’s largest exposure to the digital asset, valued at $1.5 million.
Additionally, the bank kept 317 shares of Grayscale XRP Trust ETF. The investment was only worth $8,248.
Still Testing the Waters
For a company of its size with around $6.9 trillion in assets under management (AUM), UBS’s XRP exposure is virtually minuscule. Moreover, it’s far from its Bitcoin (BTC) and Ethereum (ETH) exposures via multiple investment vehicles, but it appears to be at par with its allocation to Solana (SOL)-related products.
Regardless, many consider the move a significant stamp of approval from UBS on XRP, which has long been plagued by bad publicity stemming from regulatory hurdles, particularly with the US SEC during the last administration. It also ties into speculation that the bank is preparing to launch its own crypto trading desk.
The latter suggests that the diversification shown in the new UBS regulatory filing may signal the start of more aggressive accumulation. It’s likely to start buying the underlying crypto asset, too, rather than simply routing investments through ETFs. After all, operating a trading desk means the institution must maintain deep liquidity to efficiently fill client orders.
The scenario positions UBS’s shift from a mere spectator or passive investor to an active market maker in the digital asset sector.
XRP ETFs Performance
XRP ETFs had an immediate impact on the market upon launch in November 2025. Canary Capital’s XRP ETF, the first spot XRP ETF in the US, marked a major milestone, capturing over $245 million and outperforming other altcoin-based products outside Ether.
To date, the SEC has authorized seven XRP ETFs, with a total AUM of $1.18 billion as of writing. So far, 833.71 million XRP are locked in the vaults of their issuers, with Bitwise, Canary Capital, and Franklin Templeton accounting for over 27%, 24%, and 12% of the supply, respectively.
