Key Takeaways
- • Rakuten Group disclosed about $6.42 million in U.S.-listed crypto ETFs in its 13F filing with the SEC covering positions as of Sept. 30, 2026.
- • The largest position is $5,893,593 in BlackRock's iShares Bitcoin Trust ETF, followed by $263,632 in the iShares Ethereum Trust ETF, $150,728 in the Bitwise Solana Staking ETF, and $111,255 in the Bitwise XRP ETF.
- • Crypto funds represent less than 0.5% of Rakuten's roughly $1.4 billion U.S. equity portfolio, which is dominated by AST SpaceMobile shares.
- • The Bitwise XRP position, 6,690 shares, is worth roughly $77,000 at current prices, reflecting XRP at $1.03 and the fund's shares at $11.51 according to SoSoValue data.
- • Spot XRP ETF net assets fell to $1.16 billion from $1.51 billion on Oct. 28, though cumulative net inflows remain positive at $1.79 billion.
Summary
Rakuten Group, the Tokyo-based Japanese technology conglomerate, has disclosed roughly $6.42 million in U.S.-listed cryptocurrency exchange-traded funds, including a stake in a spot XRP ETF, according to its latest quarterly holdings report filed with the Securities and Exchange Commission. The 13F filing covers positions as of Sept. 30, 2026.
The portfolio is weighted heavily toward Bitcoin. Rakuten reported $5,893,593 in BlackRock's iShares Bitcoin Trust ETF, the largest of its four crypto fund positions. Smaller allocations include $263,632 in the iShares Ethereum Trust ETF, $150,728 in the Bitwise Solana Staking ETF, and 6,690 shares of the Bitwise XRP ETF valued at $111,255 at quarter's end. According to SoSoValue data cited in the report, that XRP position is now worth about $77,000.
U.S. rules require institutional investment managers with more than $100 million in U.S. exchange-listed securities to file such quarterly reports regardless of their domicile. Rakuten's U.S. equity book totals about $1.4 billion and is dominated by shares of satellite operator AST SpaceMobile, leaving the crypto ETF sleeve at less than 0.5% of the total.
The disclosure comes as spot XRP ETFs experience outflows. SoSoValue data show $10.42 million left the funds on Nov. 9 and another $7.62 million on Nov. 10, with no net activity on Nov. 11 or 12. Total net assets across the funds fell to $1.16 billion from $1.51 billion on Oct. 28. Cumulative net inflows since launch remain positive at $1.79 billion, and the funds' combined net asset value equals 1.77% of XRP's market capitalization. The Bitwise XRP ETF is the largest of the five spot products, with $420.29 million in net assets.
Rakuten has a market capitalization of about ¥1.4 trillion (approximately $8.8 billion) and annual revenue above ¥2.5 trillion (approximately $15.6 billion). Its ecosystem spans more than 70 businesses, including the Rakuten Ichiba marketplace, Rakuten Mobile and financial services. The filing also shows that Raymond James Financial has reported positions in spot XRP ETFs, suggesting institutional interest extends beyond dedicated crypto funds.
The portfolio is weighted heavily toward Bitcoin. Rakuten reported $5,893,593 in BlackRock's iShares Bitcoin Trust ETF, the largest of its four crypto fund positions. Smaller allocations include $263,632 in the iShares Ethereum Trust ETF, $150,728 in the Bitwise Solana Staking ETF, and 6,690 shares of the Bitwise XRP ETF valued at $111,255 at quarter's end. According to SoSoValue data cited in the report, that XRP position is now worth about $77,000.
U.S. rules require institutional investment managers with more than $100 million in U.S. exchange-listed securities to file such quarterly reports regardless of their domicile. Rakuten's U.S. equity book totals about $1.4 billion and is dominated by shares of satellite operator AST SpaceMobile, leaving the crypto ETF sleeve at less than 0.5% of the total.
The disclosure comes as spot XRP ETFs experience outflows. SoSoValue data show $10.42 million left the funds on Nov. 9 and another $7.62 million on Nov. 10, with no net activity on Nov. 11 or 12. Total net assets across the funds fell to $1.16 billion from $1.51 billion on Oct. 28. Cumulative net inflows since launch remain positive at $1.79 billion, and the funds' combined net asset value equals 1.77% of XRP's market capitalization. The Bitwise XRP ETF is the largest of the five spot products, with $420.29 million in net assets.
Rakuten has a market capitalization of about ¥1.4 trillion (approximately $8.8 billion) and annual revenue above ¥2.5 trillion (approximately $15.6 billion). Its ecosystem spans more than 70 businesses, including the Rakuten Ichiba marketplace, Rakuten Mobile and financial services. The filing also shows that Raymond James Financial has reported positions in spot XRP ETFs, suggesting institutional interest extends beyond dedicated crypto funds.
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