Marex Group has emerged as a notable player in the cryptocurrency landscape, particularly in the realm of XRP exchange-traded funds (ETFs). The Nasdaq-listed financial services firm recently revealed a combined investment of $9.4 million in two spot XRP ETFs, effectively catapulting it into the upper echelons of institutional XRP ETF holders in the United States.
This strategic move has not gone unnoticed, as Marex’s stock surged more than 15% within a week following this disclosure. The firm’s stock, traded under the ticker MEX, closed up 4.20% on Wednesday at $58.25, reflecting a remarkable year-to-date gain of over 50%.
A Filing That Moved Markets
The catalyst for this market movement was a 13F filing submitted to the U.S. Securities and Exchange Commission. In this filing, Marex disclosed its holdings of 356,865 shares of the Canary XRP ETF, valued at approximately $5.1 million as of the first quarter of 2026. This position marked a notable increase of 51% from the previous quarter, where the firm held 173,298 shares.
In addition to its stake in the Canary ETF, Marex acquired 286,021 new shares in the Bitwise XRP ETF, valued at nearly $4.3 million. These combined holdings have positioned Marex among the leading institutional holders of XRP ETFs, signaling a bullish outlook on the cryptocurrency.
While Marex’s investments are substantial, they pale in comparison to some of the industry’s giants. Goldman Sachs commands the top position with an impressive $152.16 million in XRP ETF exposure, followed by Millennium Management with over $27 million across multiple spot XRP funds. However, Marex’s aggressive accumulation within a single quarter sets it apart from many of its peers.
Strategy Stock Gets A Boost Too
In addition to its XRP investments, Marex has also increased its stake in Strategy, the Bitcoin-focused company formerly known as MicroStrategy, now traded under the ticker MSTR. The firm raised its share count from 2.9 million to 3.4 million, reflecting its commitment to diversifying its crypto portfolio.
Simultaneously, Marex has adjusted its strategies regarding call options, trimming its holdings from 108,100 down to 65,500. It has also expanded its position in Strategy’s perpetual preferred shares, known as STRK, from 4,400 to 16,401 shares. Despite these maneuvers, Strategy stock closed down 3.4% at $178.03 on Wednesday and dipped another 0.20% in premarket trading Thursday.
Moreover, Marex has reduced its exposure in several other digital asset holdings, including TON Strategy and Bitmine Immersion Technologies.
As of the time of this report, XRP was trading at $1.43, with a 24-hour price range between $1.41 and $1.47. The ongoing institutional interest in XRP ETFs is indicative of the growing confidence in the potential of this cryptocurrency.
The Marex filing adds to a series of institutional disclosures that demonstrate a palpable shift among Wall Street firms, as they increasingly take positions in spot XRP funds. Ripple CEO Brad Garlinghouse has been vocal about XRP’s unique role in financial markets, and there are indications that growing partnerships tied to Ripple have sparked rising interest from large money managers.
While sustained buying trends have yet to be confirmed, the Q1 disclosures suggest a burgeoning confidence in the market’s future.
Featured image from Shutterstock, chart from TradingView
