BMO 13F Filing Shows $2,970 in XRP Fund Shares

Bank of Montreal’s consolidated Form 13F, filed with the SEC on Aug. 12, reports $2,970 of XRP-linked exchange-traded fund shares in a $303.65 billion portfolio. The filing covers holdings as of June 30 and attributes the positions to Stoker Ostler Wealth Advisors, a Bank of Montreal-controlled investment adviser.

The disclosure lists two line items tied to XRP exposure among 14,271 reported positions. One entry shows 323 shares of the REX-Osprey XRP ETF valued at $2,771. The other lists 20 shares of the ProShares Ultra XRP ETF valued at $199. Both entries are identified in the filing as managed by Stoker Ostler.

The combined stake is roughly 0.000001% of the total reported portfolio value, about one part in 102 million. The filing implies per-share values of about $8.58 for the REX-Osprey position and $9.95 for the ProShares position.

Form 13F requires institutional managers that exercise investment discretion over Section 13(f) securities worth $100 million or more to disclose reportable long positions quarterly. The form captures a snapshot of holdings as of quarter end and does not show short positions, direct custody of tokens, or trades made after the snapshot date. Because Bank of Montreal shares investment discretion with controlled advisers such as Stoker Ostler, adviser positions can appear in the bank’s consolidated filing even if the bank is not the beneficial owner.

The two funds have different structures. The REX-Osprey fund is organized under the Investment Company Act of 1940 and does not operate as a simple spot trust. The ProShares Ultra XRP ETF aims to deliver twice the daily performance of XRP using futures and other derivatives rather than direct tracking of the token’s spot price. ETF shareholders hold fund shares; they do not receive private keys or direct access to XRP on the token network. Fund fees are taken from assets and affect returns.

The filing does not identify a beneficial owner, account type, or investment purpose for the holdings. For context, another institutional filing in late 2025 reported a roughly $153.8 million position in U.S. spot XRP ETFs. XRP’s market capitalization fell about 29% over the three months ending Aug. 12.

Bank of Montreal reported C$1.5 trillion (US$1.10 trillion) in assets, C$967 billion in deposits and about 13 million customers as of April 30, and operates roughly 1,806 branches with about 53,000 employees.