Key facts
- Farmers & Merchants Investments, a bank holding company, has $4.1 billion in assets under management.
- The company disclosed holdings in the Bitwise XRP ETF, BlackRock Bitcoin ETF (IBIT), and Robinhood Markets stock.
- Farmers & Merchants Investments holds 2,374 shares of the Bitwise XRP ETF, valued at approximately $30,000.
- The firm also holds 261 shares of BlackRock Bitcoin ETF and 475 shares of Robinhood Markets.
- Spot XRP ETFs saw net inflows of $2.49 million on Monday, with cumulative inflows reaching $1.49 billion.
- Spot Bitcoin ETFs recorded $226.8 million in inflows on Monday, with IBIT leading.
Farmers & Merchants Investments, a bank holding company managing $4.1 billion in assets, has disclosed its holdings in several cryptocurrency-related financial products, including the Bitwise XRP ETF, BlackRock Bitcoin ETF (IBIT), and Robinhood Markets stock. The disclosures were made in a recent filing with the U.S. Securities and Exchange Commission (SEC).
The firm holds 2,374 shares of the Bitwise XRP ETF, valued at approximately $30,000, signaling a growing institutional allocation towards XRP. This move aligns with increasing interest from traditional finance institutions in XRP, bolstered by Ripple's partnerships and demand for tokenization on the XRPL. Notably, Bank of America also holds shares in a Volatility Shares XRP ETF.
Institutional interest in XRP is also being fueled by growing regulatory clarity in the crypto space. Spot XRP ETFs experienced net inflows of $2.49 million on Monday, contributing to a cumulative inflow of $1.49 billion. The total assets under management for XRP ETFs currently stand at $1.02 billion.
In addition to XRP exposure, Farmers & Merchants Investments reported holdings in the BlackRock Bitcoin ETF (IBIT) and Robinhood stock. The firm holds 261 shares of IBIT and 475 shares of HOOD. Spot Bitcoin ETFs also saw significant inflows on Monday, totaling $226.8 million, with IBIT leading the surge. Bitcoin's price surpassed $66,300 amid this bullish institutional sentiment.
Robinhood stock has also garnered renewed institutional attention, with Wall Street analysts issuing 'buy' recommendations and raising price targets. Bernstein, Barclays, Morgan Stanley, and Goldman Sachs have all provided positive outlooks on HOOD stock, which saw a 2.88% surge in premarket trading.