Farmers & Merchants Investments Adds Bitwise XRP ETF Exposure in Latest SEC Filing

• Farmers & Merchants Investments disclosed a position in the Bitwise XRP ETF, according to its latest SEC filing.
• The allocation is modest in size, but it adds to signs that traditional firms are widening crypto exposure beyond Bitcoin-only products.

Another traditional finance firm has added XRP-linked exposure, though this one comes in a relatively measured size. According to its latest SEC filing, Farmers & Merchants Investments holds 2,374 shares of the Bitwise XRP ETF, a position valued at roughly $35,681. In portfolio terms, that is not a transformative bet. Still, it is a notable move because it shows exposure expanding beyond the now-familiar pattern of institutions sticking almost exclusively to Bitcoin-linked products. A small position, but a clear signal The size of the holding is modest relative to the firm’s overall portfolio, and that point matters. This is not a headline-grabbing allocation meant to redefine the balance sheet. It is, rather, a measured extension into a newer crypto product category. Even so, the symbolism is hard to miss. XRP-related exposure has long been treated more cautiously by traditional institutions than Bitcoin exposure, in part because product availability, regulatory treatment and market narratives arrived later and with more friction. That appears to be changing, slowly but clearly. Farmers & Merchants Investments also disclosed holdings in BlackRock’s iShares Bitcoin Trust (IBIT), which suggests the firm’s crypto strategy is not limited to one asset or one issuer. Instead, it seems to be building a broader ETF-based exposure across select parts of the market. XRP products are drawing more traditional attention The filing fits into a larger pattern now taking shape. More traditional firms appear willing to test XRP-linked investment products as regulatory clarity improves and the ecosystem around XRPL and Ripple’s institutional partnerships keeps expanding. That does not mean a major institutional flood into XRP has arrived. Not yet. But it does suggest the asset is being treated less as an outlier than it once was. The mention of other firms, including Bank of America’s reported holding in a Volatility Shares XRP ETF, reinforces that point. For now, the allocations remain relatively small. What matters more is the direction. Traditional institutions are no longer only experimenting with Bitcoin wrappers. Some are beginning to widen the aperture, and XRP is starting to show up inside that frame.