Chicago Market Maker IMC Loads Up on XRP ETFs Like It's Prepping for a Ripple Smoothie 🥤

Market maker IMC-Chicago, a proprietary trading firm overseeing $418 billion in assets under management, disclosed substantial holdings across multiple XRP exchange-traded funds in its Q2 filing with the US SEC. The Chicago-based firm reported direct share positions in the Bitwise XRP ETF, the Teucrium 2x Long Daily XRP ETF (XXRP), and the Volatility Shares 2x XRP ETF, alongside millions of dollars in options positions that skew bullish on XRP ETF exposure. According to the filing, IMC-Chicago purchased 28,237 shares in the Bitwise XRP ETF, 12,207 shares in the Teucrium 2x Long Daily XRP ETF (XXRP), and 10,531 shares in the Volatility Shares 2x XRP ETF.

IMC-Chicago's total portfolio value expanded by nearly 50% during the quarter, according to the filing, with the firm increasing exposure to crypto-related products alongside other asset classes. Beyond the spot and leveraged ETF share purchases, the trading firm reported call options positions on additional XRP ETF products, indicating a directional tilt toward higher XRP prices. The disclosure comes as XRP trades in a recovery pattern following a recent pullback tied to uncertainty surrounding the Clarity Act.

The firm's expanded XRP ETF positions coincide with continued development activity on the XRP Ledger, including a protocol upgrade referenced in recent network communications. Institutional filings of this scale remain relatively rare for XRP-focused products, which launched into a market environment that has steadily absorbed more crypto exposure through regulated wrappers. The SEC filing did not include commentary from IMC-Chicago management beyond standard disclosures required for large institutional positions.

XRP's recent price movement has reflected both the broader crypto market rebound and asset-specific catalysts, including the network upgrade and the increasing visibility of institutional holders via regulated ETF products. The combination of direct share purchases and bullish options structures in the IMC-Chicago filing adds to a growing set of public records showing traditional trading firms building positions in XRP-linked instruments. The full Q2 filing with the US SEC contains the complete inventory of IMC-Chicago's holdings and derivatives exposures.