How an Alabama RIA is playing the crypto ETF rotation
EverSource Wealth Advisors, a Birmingham-based registered investment advisor overseeing $3. 6 billion in client assets, disclosed new positions in XRP exchange-traded fu…
EverSource Wealth Advisors, a Birmingham-based registered investment advisor overseeing $3. 6 billion in client assets, disclosed new positions in XRP exchange-traded fu…
- The firm's total 13F portfolio value declined 9.4% from $3.27 billion to $2.96 billion quarter-over-quarter, even as it aggressively added crypto ETF exposure.
- Total disclosed institutional XRP ETF holders rose to 62 in Q1 2026 from 33 in Q4 2025, though aggregate disclosed assets fell 57% to $28.8 million amid price compression.
- Cumulative spot XRP ETF inflows stand at $1.49 billion, with $997 million in total net assets across five funds.
- The Federal Reserve's July 28-29 FOMC meeting and the fate of the CLARITY Act are the near-term catalysts that will determine whether RIA-level XRP ETF allocations expand past pilot positions.
EverSource Wealth Advisors, a Birmingham-based registered investment advisor overseeing $3.6 billion in client assets, disclosed new positions in XRP exchange-traded funds during the second quarter alongside a nearly fivefold increase in its largest Bitcoin ETF holding, according to a 13F filing with the SEC submitted July 24.
EverSource is not a crypto-native firm. It is a traditional wealth manager serving high-net-worth clients from a suburban Birmingham office park. Its 13F filings show a steady accumulation of crypto exposure beginning in Q2 2024, when it first initiated a position in FBTC at 316,414 shares. Over nine consecutive quarters, the firm has expanded into a multi-product crypto allocation spanning spot and leveraged ETFs, equity proxies, and now a pre-merger SPAC tied to Ripple infrastructure.
The XRP ETF positions arrive at a moment when institutional adoption of the products is accelerating but still concentrated among a handful of large filers. Bloomberg Intelligence data shows 62 institutional investors reported XRP ETF holdings in their Q1 2026 filings, up from 33 in Q4 2025, though total disclosed assets fell 57% quarter-over-quarter to $28.8 million as price declines compressed notional values. Goldman Sachs remains the largest disclosed holder with roughly $153.8 million spread across four XRP ETF products. Millennium Management, Citadel Advisors, and Jane Street also maintain positions.
The Q2 portfolio data tells a nuanced story about conviction. EverSource's 13F value declined from $3.27 billion in Q1 to $2.96 billion in Q2, a 9.4% drop driven largely by the broader market drawdown that pulled XRP down 22.99% over the trailing 90-day period. Against that backdrop, the firm reduced its equity book by roughly 119 positions quarter-over-quarter, suggesting broad de-risking. Yet within that contraction, the FBTC allocation was aggressively increased.