Is Citadel’s XRP ETF A Game-Changer Or Is It Another Empty Whistle?
Citadel Advisors, a powerful Wall Street hedge fund founded by billionaire Ken Griffin, has reportedly made a series of moves into Spot XRP ETFs, according to unverified reports circulating across the crypto markets. The firm, known for its highly disciplined approach to investing and its massive influence across global financial markets, is said to have closed all its put options on the Canary XRP ETF while maintaining its call options. This combination has drawn significant attention from analysts and investors tracking institutional activity in the crypto space, as it possibly signals Citadel’s belief that the XRP price could rise soon.
Citadel Files 13F On Canary XRP ETF
Market analyst Xaif Crypto disclosed in an X post on May 16 that Citadel has reportedly filed a 13F with the US Securities and Exchange Commission (SEC), revealing a major stake in the XRP ETF. According to claims going around, the firm holds $1.7 million in XRP exposure across multiple providers, including Bitwise, Canary, Franklin, and Grayscale.
These claims suggest that Citadel had previously held put options on its XRP ETF, a move that would have protected it if the cryptocurrency’s price fell. Those puts are now said to be completely closed out at 100%, meaning Citadel allegedly removed its entire safety net.
What makes this move even more interesting, if confirmed, is what the Wall Street firm had reportedly kept after it closed out all its puts. Citadel is said to still hold 34,900 call options on its XRP ETF, bets that could pay off significantly if the cryptocurrency’s price surges higher. Although the size of the bets tied to those positions has not been revealed.
In large-scale investing, a company removing its downside protection while keeping upside bets is generally read as a sign of growing confidence in an asset. This means that Citadel likely expects XRP’s downtrend to end soon, potentially flipping into bullish territory once more and triggering a fresh rally.
Although the rumored 13F filing remains unconfirmed, what is certain is that Citadel and Fortress co-led a $500 million round in Ripple in November 2025, valuing the crypto company at $40 billion. This suggests that the hedge fund has shown interest in the XRP ecosystem well before the latest claims emerged.
XRP ETFs See Highest Weekly Inflow This Year
X Finance Bull, a well-known crypto analyst on X, announced on May 18 that XRP spot ETFs recorded their highest weekly inflow since January 2026, pulling in $60.5 million. This capital brought the crypto fund’s cumulative total net inflow to a whopping $1.39 billion. Notably, the surge in demand came during a period when XRP’s price remained low and was consolidating. X Finance Bull noted that while retail investors panicked and sold into the dip, institutions continued to accumulate XRP-linked products at an accelerated pace.
The analyst explained that this bizarre opposite movement between retail and institutional investors is due to upcoming events that could significantly impact the XRP price. X Finance Bull points to a series of regulatory and structural developments that institutional players appear to be tracking closely.
Among them are the CLARITY Act markup, the appointment of Kevin Warsh as Fed Chair, the Ripple Prime $200 million facility, a DTCC working group, and reported settlement activity involving JPMorgan Chase and Mastercard on the XRP Ledger (XRPL). He noted that these are the kinds of developments that large funds tend to position around well ahead of any price movement.
Featured image created with Dall.E, chart from Tradingview.com
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