Rakuten reports $6.4 million in US crypto ETF holdings, including spot XRP ETF

Japanese technology and fintech giant Rakuten Group has disclosed a combined $6.42 million in crypto ETF holdings, including a position in a US-listed spot XRP ETF, according to its latest mandatory filing with the US Securities and Exchange Commission (SEC).

Rakuten’s crypto ETF portfolio

In its recent 13F filing, Rakuten reported holding 6,690 shares of the Bitwise XRP ETF, valued at $111,255 at the quarter’s end on September 30, 2026. As of today, with XRP trading at $1.03 and Bitwise ETF shares at $11.51, Rakuten’s XRP ETF stake now stands at approximately $77,000, data from SoSoValue show.

The company’s largest digital asset fund position is in BlackRock’s iShares Bitcoin Trust ETF, with a reported value of $5,893,593. Rakuten also holds $263,632 in iShares Ethereum Trust ETF shares and $150,728 in Bitwise Solana Staking ETF shares.

These investments represent a small fraction of Rakuten’s overall US securities portfolio, accounting for less than 0.5% of its US equity holdings.

Regulatory context and Rakuten’s broader investments

Regulation in the US requires institutional asset managers holding more than $100 million in US exchange-listed securities to disclose their holdings each quarter, regardless of the company’s headquarters location. Rakuten’s US equity investments total about $1.4 billion, the majority of which is in shares of satellite communications company AST SpaceMobile.

In this context, Rakuten’s crypto ETF holdings are a minor component of its broader portfolio.

Rakuten, headquartered in Tokyo, is one of Japan’s largest technology groups, with a market capitalization near ¥1.4 trillion ($9 billion) and annual revenues exceeding ¥2.5 trillion ($16 billion).

The company operates an extensive ecosystem of more than 70 businesses, including the Rakuten Ichiba e-commerce marketplace, Rakuten Mobile, and financial services. Rakuten reports these platforms serve over 100 million users in Japan and 2.1 billion globally.

Mini dictionary: 13F filing, a quarterly report mandated by the US SEC for institutional investment managers overseeing more than $100 million in qualifying assets, detailing their equity holdings.

Broader interest in XRP ETFs and recent fund flows

Rakuten is not the only major institution disclosing positions in spot XRP ETFs. Raymond James Financial has also reported holdings in these crypto investment products, based on filings with the SEC.

Recent weeks have seen significant outflows from spot XRP ETFs, with SoSoValue reporting $10.42 million withdrawn on November 9 and a further $7.62 million on November 10. No additional flows occurred on November 11 or 12. As of October 28, spot XRP ETF assets totaled $1.51 billion.

Despite recent outflows, cumulative net inflows into spot XRP ETFs remain positive at $1.79 billion, with total net assets across these funds at $1.16 billion, which is 1.77% of XRP’s total market capitalization. The Bitwise XRP ETF leads as the largest among the five spot XRP funds, reporting $420.29 million in net assets.

Rakuten’s latest regulatory filing shows active institutional interest in digital asset funds, with its positions spanning major cryptocurrencies such as Bitcoin, Ethereum, Solana, and XRP.